Covid-19 impact on Nepal economy on the decline: Govt

Ministry of Finance
File image: Ministry of Finance

Kathmandu, January 24

The government has claimed the impact of Covid-19 on the country’s economy is on the decline.

In a report recently made public, the Ministry of Finance has analysed the country’s economic status up to mid-December 2020. According to the report, the government is improving its spending capacity and revenue collection.

Although the figures from the first five months of the fiscal year are less compared to the same period last year, the government says it is positive given the background of the Covid-19 crisis.

In these five months, the government spent Rs 328.45 billion and collected Rs 301.29 billion in revenues. The ministry says it collected 96.18 per cent of the estimated customs charges, 87.77 per cent of estimated income tax, and 82.03 per cent of estimated excise duties.

Meanwhile, the FDI commitment increased by 31 per cent.

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