November 17: The country recorded a surplus in Balance of Payments (BOP) in the first quarter of the current fiscal year after a gap of 14 months. Until now, the BOP remained at a deficit due to high imports and declining remittances.

However, the policy adopted by the government to tighten imports and the rise in remittance inflow in the post-pandemic period led to an improvement in Balance of Payments.

According to the Current Macroeconomic and Financial Situation Report published by Nepal Rastra Bank on Wednesday, the Balance of Payments (BOP) remained at a surplus of Rs 12.43 billion in the review period compared to a deficit of Rs 87.71 billion in the same period of the previous year.

Meanwhile, the current account remained at a deficit of Rs 34.28 billion in the review period compared to a deficit of Rs 149.81 billion in the same period of the previous year.

In the review period, capital transfer increased 34.8 percent to Rs 2.59 billion and net foreign direct investment (FDI) remained Rs 79.6 million. In the same period of the previous year, capital transfer and net FDI amounted to Rs 1.92 billion and Rs 5.07 billion respectively.