Nepal: 2008 Article IV Consultation: Staff Report; Staff Supplement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Nepal
Volume/Issue:
Volume 2008
Issue 181
Publication date: June 2008
ISBN: 9781451830118
$20.00
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Banks and Banking , Exports and Imports , Inflation , Economics- Macroeconomics , Public Finance , ISCR , CR , net present value , Nepal , government , debt , GDP , real GDP , Nepalese authorities , growth prospect , government finances , credit growth , PRGF program , Budget planning and preparation , Trade balance , Inflation , Global
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Summary
Limited progress has been made in addressing Nepal’s structural weaknesses in tax administration and public financial management. Macroeconomic performance under the recent Poverty Reduction and Growth Facility (PRGF)-supported program has been stable. The outlook for 2007–08 remains stable. Although the macroeconomic performance has been stable, progress on structural reforms has been held back by the fragile political circumstances. Public enterprises and the Nepal Oil Corporation, in particular, pursue quasi-fiscal activities involving significant subsidies. Nepal’s growth prospects depend most importantly on a peaceful political transition.
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