Economy is challenging by Covid 19 But It will be revived in with everyone's effort: Finance Minister

Nov Sun 2020 08:34:26

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Economy is challenging by Covid 19 But It will be revived in with everyone's effort:  Finance Minister

Kathmandu. Finance Minister Bishnu Poudel has said that it is challenging to restore the contraction in the country's economy due to the Kovid-19 epidemic.

He said the risk of covid infection had a serious impact on the country's production and employment, leading to a contraction in the economy.

Finance Minister Bishnu Poudel has said he has emphasized on six major sectors for making the economy vibrant and for rescuing it from the adverse impact of COVID-19.

According to him, these six sectors are: effective implementation of the budget, increasing the capital expenditure, cut down on current expenditures, providing relief package to the poor section of the population affected by COVID-19, the stimulus package for the most-affected economic sectors and effective management of financial sources of the government for meeting the government's growing expenses.

Finance Minister Poudel said COVID-19 has badly impacted the national economy, leading to a decrease in economic growth rate and increasing unemployment. This will also impact the declining poverty rate.

He expected the active participation of the political parties, the private sector, media persons, stakeholders and the general public in these priority areas.

The government should come up with some more policies and programmes to address the coronavirus-affected economy, revive it and to achieve the goal of economic prosperity, Minister Poudel said he has taken the view and demand of the private sector in a positive light and was in the process of holding more consultations and discussions with the private sector on this matter.