Finance Minister Yuba Raj Khatiwada has said the state coffer is almost empty.
Briefing the House of Representatives (HoR) on the economic state of the country on Friday, Minister Khatiwada said the economy faces a lot of challenges.
He pointed that the country can move forward only after a correct analysis of the economic state and revealed that informal economy has fostered now.
He stated that foreign investment has not arrived as expected and claimed that the previous government has allocated budget even when there was no resources. Issuing a white paper on the state of economy, he also spoke about the stock market that has been falling since he took over the Finance Ministry. He has pointed that the capital market is shallow and its scope narrow.
"The Nepse index that depicts the value of transaction of the capital market is unstable. The share price has now been affected due to lack of institutional investors, lack of liquidity in the financial market, rise in issue and supply of shares in the market," the white paper states.
"There have been massive fluctuations in the Nepse index due to lack of dissemination of the true information and transparency, and lack of knowledge about share investment in the investors especially the smaller ones," it adds.
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