Improvement on Economic and Financial situation of the country - NRB Report

Mar Mon 2023 03:58:34

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Improvement on Economic and Financial situation of the country - NRB Report

Nepal Rastra Bank (NRB) has released data on the current economic and financial situation of the country. On Sunday, the National Bank has published the economic and financial situation based on the data of seven months of the current financial year.

According to the published data, inflation based on consumer price index on annual point basis is 7.88 percent. Likewise, during this period, imports decreased by 19.9 percent, exports decreased by 29.0 percent, and the total merchandise trade deficit decreased by 18.7 percent.

During this period, the remittance inflow has increased by 27.1 percent in Nepali Rupees and by 16.4 percent in US Dollars, while the net balance is Rs. 133 billion 21 million savings.

For seven months of the current fiscal year, the total foreign exchange reserves are Rs. 1383 billion 33 billion and 10 billion 50 billion in US dollars. In addition, during this period, the expenditure of the federal government was Rs. 667 billion 66 million and the revenue mobilization was Rs. 514 billion 69 million.

Similarly, the wide money supply has increased by 4.7 percent during this period. On an annual point basis, such money supply has increased by 8.8 percent. Deposit collection of banks and financial institutions increased by 5.0 percent and loans to the private sector increased by 3.2 percent. On an annual point basis, the growth rate of deposits is 10.5 percent and the growth rate of loans to the private sector is 3.9 percent.

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