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December 11: Nepal’s economy is all set to expand by Rs 500 billion with the increase in gross domestic product (GDP). The GDP at current prices is Rs 2,500 billion is poised to increase to Rs 3,000 billion. However, this increase in GDP is not taking place overnight but is due to the revision in the National Income Accounting System.
Nepal Rastra Bank (NRB) and the Ministry of Finance are preparing a new system to calculate the GDP in the context of the changed economic structure of the country.
As the new system in calculating GDP will also cover the areas that have been excluded so far, we can expect to see an increase in the size of the country’s economy, according to NRB Governor Dr Chiranjivi Nepal.
“The country’s economy which is somewhere in between Rs 2,500 to Rs 2,600 billion at present is set to cross the mark of Rs 3,000 billion when calculated by the new system,” said Governor Nepal during a function organised to mark the beginning of integrated transaction by Century Commercial Bank after acquiring Seti Finance on Sunday, December 10.
He further added that budget announced as per the new federal system adopted by the government has helped BFIs to reach out to the rural areas of the country.
“Rs 225 billion has already been released to the local units and an equal amount is in the process of being released for the provincial level,” said Governor Nepal.
“This has helped in capacity enhancement of banks and mobilisation of local resources,” he added.
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<p>Nepal Rastra Bank (NRB) and the Ministry of Finance are preparing a new system to calculate the GDP in the context of the changed economic structure of the country.</p>
<p>As the new system in calculating GDP will also cover the areas that have been excluded so far, we can expect to see an increase in the size of the country’s economy, according to NRB Governor Dr Chiranjivi Nepal.</p>
<p>“The country’s economy which is somewhere in between Rs 2,500 to Rs 2,600 billion at present is set to cross the mark of Rs 3,000 billion when calculated by the new system,” said Governor Nepal during a function organised to mark the beginning of integrated transaction by Century Commercial Bank after acquiring Seti Finance on Sunday, December 10.</p>
<p>He further added that budget announced as per the new federal system adopted by the government has helped BFIs to reach out to the rural areas of the country.</p>
<p>“Rs 225 billion has already been released to the local units and an equal amount is in the process of being released for the provincial level,” said Governor Nepal.</p>
<p>“This has helped in capacity enhancement of banks and mobilisation of local resources,” he added.</p>
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<p>Nepal Rastra Bank (NRB) and the Ministry of Finance are preparing a new system to calculate the GDP in the context of the changed economic structure of the country.</p>
<p>As the new system in calculating GDP will also cover the areas that have been excluded so far, we can expect to see an increase in the size of the country’s economy, according to NRB Governor Dr Chiranjivi Nepal.</p>
<p>“The country’s economy which is somewhere in between Rs 2,500 to Rs 2,600 billion at present is set to cross the mark of Rs 3,000 billion when calculated by the new system,” said Governor Nepal during a function organised to mark the beginning of integrated transaction by Century Commercial Bank after acquiring Seti Finance on Sunday, December 10.</p>
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<p>“Rs 225 billion has already been released to the local units and an equal amount is in the process of being released for the provincial level,” said Governor Nepal.</p>
<p>“This has helped in capacity enhancement of banks and mobilisation of local resources,” he added.</p>
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<p>Nepal Rastra Bank (NRB) and the Ministry of Finance are preparing a new system to calculate the GDP in the context of the changed economic structure of the country.</p>
<p>As the new system in calculating GDP will also cover the areas that have been excluded so far, we can expect to see an increase in the size of the country’s economy, according to NRB Governor Dr Chiranjivi Nepal.</p>
<p>“The country’s economy which is somewhere in between Rs 2,500 to Rs 2,600 billion at present is set to cross the mark of Rs 3,000 billion when calculated by the new system,” said Governor Nepal during a function organised to mark the beginning of integrated transaction by Century Commercial Bank after acquiring Seti Finance on Sunday, December 10.</p>
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<p>“Rs 225 billion has already been released to the local units and an equal amount is in the process of being released for the provincial level,” said Governor Nepal.</p>
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<p>As the new system in calculating GDP will also cover the areas that have been excluded so far, we can expect to see an increase in the size of the country’s economy, according to NRB Governor Dr Chiranjivi Nepal.</p>
<p>“The country’s economy which is somewhere in between Rs 2,500 to Rs 2,600 billion at present is set to cross the mark of Rs 3,000 billion when calculated by the new system,” said Governor Nepal during a function organised to mark the beginning of integrated transaction by Century Commercial Bank after acquiring Seti Finance on Sunday, December 10.</p>
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<p>“Rs 225 billion has already been released to the local units and an equal amount is in the process of being released for the provincial level,” said Governor Nepal.</p>
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