Thursday May 30, 2024
Thursday May 30, 2024

FM Pun discusses budget formulation with development partners

2024 May 13, 20:35,

Finance Minister Barshaman Pun held discussion with heads and representatives of international development partners on the budget formulation for coming fiscal year 2024/25.

During the meeting held at Finance Ministry on Monday, heads and representatives of multilateral development partners including the World Bank, Asian Development Bank, International Monetary Fund and International Finance Cooperation as well as ambassadors of international development agencies—Switzerland, Denmark, Finland, South Korea, Japan, United Kingdom and European Union and bilateral development partners were present, according to Finance Minister Pun's Secretariat.

On the occasion, the Finance Minister shared about priorities and principles of coming fiscal year budget and added that the government was committed to creating environment conducive to foreign direct investment and investment-friendly environment for the private sector.

Emphasis has to be laid on foreign investment and assistance as internal source mobilization is not enough to achieve development goals determined by the government, underscored the Finance Minister.

Finance Minister Pun explained that the country has forwarded activities determining necessary strategy to graduate Nepal to a developing country from least developed country by 2026 and to achieve sustainable development goals by 2030.

"We need huge investment to achieve these ambitious development goals for which we want to join hands with development partners," he said.

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