Finance Secretary Marasini said Monetary Policy Should Be Aimed At Increasing The Confidence Of The Private Sector

Finance Secretary Marasini said Monetary Policy Should Be Aimed At Increasing The Confidence Of The Private Sector

July 9, 2024, 8:07 a.m.

Madhu Kumar Marasini, the Finance Secretary, emphasized that the focus of monetary policy should be on boosting the confidence of businesses.

In a statement, finance secretary Marasini highlighted the need for a rigorous approach to meet the nation's objective of economic expansion.

He mentioned during the Finance Committee's meeting in the House of Representatives on Monday. He said that the approach to monetary policy should be crafted to fulfill the government's economic growth agenda.

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"The monetary policy should level the playing field to realize the government's economic growth target," he stated. The government has established an ambition of achieving a 6 percent economic growth rate for the upcoming fiscal year.

Marasini, who also serves on the Board of Directors for Nepal Rashtra Bank, is optimistic about the role of monetary policy in ushering in a new era of economic prosperity.

"The goal of monetary policy should be to enhance the confidence of the private sector," he noted, "and this will lead to a reduction in consumer spending." The monetary policy needs to tackle the existing issues.”

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