Economy on path of recovery: Finance Minister Mahat

Galkot (Baglung), March 1: Finance Minister Dr Prakash Sharan Mahat has said the country's economy has started catching its pace.     

During a programme organised by the Nepali Congress (NC) Baglung today, the Minister said the government is focused on ensuring a sustainable improvement in the economy.     

He added that economic indicators suggest that the economy is recovering.     

According to him, when he assumed office, the inflation was eight per cent and the bank interest rate was 16 per cent. A significant volume of investment was in real estate and the stock market. Now bank interest rates are coming to a single digit, there is a rise in economic growth. Though overnight improvement is not possible, the economy has been on the gradual path of recovery.     

He accused the previous government of implementing projects haphazardly, causing more financial responsibilities to the incumbent government.     

The Minister who is also the Spokesperson for the Nepali Congress said, "Sentiments are not enough to drive the party. It should be capable of giving the right leadership to the nation and bringing prosperity to the country."     

He argued that the relevance of a coalition government is becoming vital when constitutionally it seems that no political parties are in the status of garnering a majority in the election.     

He is here to attend an economic dialogue to be held under Ananta Shree Brhamandiya Mahayagya, a religious event to run till March 6. (RSS)