Finance Minister Presents Economic Survey 2082/83 in Federal Parliament

Kathmandu. Finance Minister Swarnim Wagle has presented the Economic Survey for the current fiscal year 2082/83 in the Federal Parliament. Presenting the Economic Survey, Finance Minister Wagle stated that despite the uncertainty in the global economy and regional conflicts, Nepal's macroeconomic indicators have shown improvement and the social sector has made satisfactory progress. 

According to the Economic Survey presented by him, Nepal's economy is estimated to expand by 3.85 percent in the current fiscal year. This growth rate for Nepal is considered positive at a time when the global economy is projected to shrink to 3.1 percent. The total size of the country's economy is projected to reach 66 kharba and the per capita gross national income of Nepalis is projected to reach 1,535 US dollars. While the growth rate of Bagmati and Gandaki provinces is above the national average, the growth rate of other provinces is expected to be below the average. 

According to the survey submitted by the Finance Minister to the Parliament, the contribution of the agricultural sector to the gross domestic product is estimated to be 24 percent and the non-agricultural sector is estimated to be 76 percent. The Bagmati Province dominates economic activities, contributing 36.7 percent to the gross domestic product. However, the survey shows that the production of the main food grain, paddy, has contracted by 4.20 percent and is limited to 5.705 million metric tons. 

Presenting the Economic Survey in Parliament, Finance Minister Wagle informed that federal revenue has increased by 3.2 percent by the end of Falgun in the current fiscal year. According to him, although government expenditure has increased by 10.4 percent, there has not been significant improvement in capital expenditure (development expenditure). The government's total public debt has reached 28 kharba 78 arba, which is 43.6 percent of the gross domestic product. This year, the government has mobilized 3 kharba in public debt. 

Presenting the survey, Wagle stated that the country's external sector appears very strong. According to him, remittance inflow has increased by 37.7 percent to reach 14 kharba 50 arba. Foreign exchange reserves have reached a historic high of 34 kharba 14 arba, which is sufficient to cover 18.5 months of merchandise and service imports. However, the trade deficit has increased by 11.2 percent to reach 10 kharba 98 arba, which has become a challenge for the economy. 

According to the Economic Survey, there has been significant progress in technology-friendly payments. Transactions through QR codes have exceeded 1 kharba 25 arba by the month of Falgun. Similarly, Nepal has received a 'BB-' stable outlook in the 2025 sovereign credit rating, indicating an improvement in Nepal's creditworthiness at the international level. Inflation (price hikes) remains under control, averaging 2.13 percent. 

Nepal has made progress in human development indicators. The Human Development Index has reached 0.622 and the average life expectancy of Nepalis has reached 71.3 years. In the health sector, the maternal mortality rate has fallen to 151 per lakh and the under-five child mortality rate has fallen to 33 per thousand. In education, the net enrollment rate at the basic level has reached 97.8 percent, and the participation of citizens in health insurance and the social security fund is increasing, as mentioned in the Economic Survey.