Friday, 24 May, 2024

Country’s economy won't face tailspin as that of Sri Lanka: Minister Sharma


Kathmandu, Apr. 8: Finance Minister Janardan Sharma has argued that the country’s economy would not go into a tailspin like that of Sri Lanka.

Some factors like the country’s strong internal economy, strengthened production and revenue system and low pressure of debts would prevent the country from turning into the dire state of Sri Lanka, he reasoned at an event organised by Nepal Rastra Bank here Friday. “Thanks go to those who are concerned over the country’s economic problems. Such concerns make the authorities cautious. But anyone's ill dream of the dire state of the national economy will not be materialized” he reiterated.

He ruled out the comparison between the two countries given their different kind of economies because there are differences in the structures of our production and foreign loans. “Despite this, a section of people has been trying to create havoc. We all together should foil their attempts.”

Finance Minister Sharma however blamed the failure to stop capital flights taking place through cryptocurrencies and hyper funds for creating stress on the country’s economy. “We should not fear technological developments. But we should focus on right steps taken so as to ensure their right use,” he argued.

For resolving problems the country’s economy is facing, he stressed the need for all sectors to come together for it. Utilisation of the country’s resources maximum, creating of job opportunities in infrastructure construction and production activities within the country, and export increase are some of the factors supporting the country’s economy, he said.