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Government Studying Impacts of Coronavirus on Nepal’s Economy

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Government Studying Impacts of Coronavirus on Nepal’s Economy
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March 6: The government has started studying the impacts of coronavrius on the country’s economy. Finance Minister Yuba Raj Khatiwada, who is also the government spokesperson, informed that the government has already formed a task force which has been studying the impacts.

Speaking at a regular press meet at the Ministry of Communication and Information Technology on Thursday, Minister Khatiwada said that Nepal Rastra Bank has also been studying the impacts of the deadly disease on Nepal’s economy separately.

According to the minister, Nepal’s economy has witnessed slight glitches while the global epidemic is yet to cause any adverse effects here so far.

He further said that the government is currently studying the impacts and has not yet decided to announce relief packages.

Secretary at the ministry Uttar Kumar Khatri also said that the government is not yet ready to announce relief packages but has adopted high alertness about the possible effects of the disease on the national economy.

Officials at the Ministry of Finance opine that the government might include relief packages in the upcoming budget as they have already started making preparations for the annual budget.

Meanwhile, unveiling the mid-term review of the monetary policy, the central bank said on Monday that the government might not meet its target of economic growth as a result of coronavirus outbreak this year. Officials at the central bank said that they have decided to identify the sectors affected by coronavirus and extend additional loans to those sectors to help them cope with the effects of the deadly disease.

The effects of coronavirus have started taking toll on Nepal’s economy with the disease fast spreading across the globe. The tourism sector of Nepal has been affected the most while the trade between Nepal and China has come to a grinding halt.

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