Nepal's Economy is moving toward high #inflation

Nepal's Economy is moving toward high #inflation with basic necessities like milk and rice's prices going up. There is a big possibility of a further #EconomicCrisis coming ahead...

Global rate of growth is slowing sharply, with further slowing likely as more countries fall into #slowrecession.

#Inflation has been broad-based, with food prices expanding by 7.5 percent and non-food price inflation increasing to 8.7 percent

Unless supply disruptions and import-markets are controlled, those increased rates could leave the global core inflation rate adapting the deficit of higher import for an imbalance to import more of the basic necessities.....

Need for strong policies to curb inflation without exacerbating #RecessionRisk is the priority of the time. To create better solution and lowering the inflation rates, currency stability and faster growth, policymakers could shift their focus from increasing the prices to boosting production and agricultural collaboration. Policies should seek to manage the inflation to basic necessities and improve productivity and capital allocation, which are critical for growth and poverty reduction.

The current account deficit widened from 7.8 percent of GDP in FY21 to a historic high of 12.8 percent of GDP in FY22, associated with a drop in remittances and a larger trade deficit.

#Monetarypolicy at the start of FY23 was designed to balance support for the #economicrecovery with the tightening required for economic and #financialstability.

In absence of #visionaryleaders and limited political scope in #Publicpolicyprocess Nepal's economy lies doomed with the big question of what lies NEXT?

#NepalEconomy #Nepalnow #Nepaldevelopment #Nepalaid #SDG #Nepaltrade #Nepalcrisis #Economiccrisis #Povertyreduction #Economypolicy #Globalgoals