Covid -affected economy of Nepal is improving by NRB report

Jan Sat 2021 06:15:58

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Covid -affected economy of Nepal is improving by NRB report

Kathmandu. There are signs that the economy, which has been affected since April 2076 due to the Kovid-19 infection, is improving. According to a report released by the Nepal Rastra Bank on the current economic and financial situation of the country, imports of industrial raw materials, fuel, capital goods, etc. have been gradually increasing and exports are also improving.

The central bank has mentioned in the report that the economic activity has started to pick up speed even from the recurring survey conducted in October-November, 2077 on the impact of COVID-19 on the economy.

A survey conducted by the National Bank of Nepal in June-July, 2077 BS showed that only 4.1 percent of the industries and businesses were fully operational. It is said that it is preparing to come into operation out of the remaining ones.

The report says that the industry has started operating gradually as the government has been easing the control standards of COVID-19.

According to NRB spokesperson Gunakar Bhatta, the operating conditions of most of the large scale industries have improved significantly as compared to the small and medium scale industries. He said that the improvement in the operation of industry, business, production, etc. in November compared to last July has indicated that the economy affected by Kovid has started to return to normal.

Similarly, compared to the production / turnover of industry and business before KOVID-19, the production / turnover was only 29 percent in June-July 2077 BS, but it has reached 50 percent in November-November 2077 BS.