The government issued white paper on economics to state the country’s current economic status.
Yubaraj Khatiwada, Minister of Finance unveiled the report at a press meet at Singhadurbar today.
The government issues white paper to not just show the country’s economic condition, but also plan to take measures on ongoing economic and financial challenges.
According to My Republica, in 2015, Bishnu Prasad Paudel, who was finance minister in the government led by K P Sharma Oli, had also issued white paper in November, 2015, in light of the undeclared trade blockade imposed by India and the devastating earthquakes of 2015 that crippled the country's economy.
With Oli returning to power, the finance ministry is again releasing the white paper amid slow revenue growth, widening trade deficit, negative balance of payment and current account positions and shortage of lendable fund in banking system.
The white paper is expected to address these challenges along with the issue of sharing and distribution of resources with the provincial and local governments.
The white paper also aims to announce measures to reduce the ever-expanding trade deficit and the initiatives that the government will take to expedite capital-intensive development projects