Banking Khabar / Finance Minister Dr. Swarnim Wagle has said that Nepal’s economic challenges go beyond a lack of resources, pointing instead to unclear policies, weak institutions, and poor implementation.
Presenting a 73-point assessment of the current economic situation, Wagle stated that although Nepal is rich in resources, opportunities, and goodwill, it has failed to achieve prosperity due to a crisis in vision, commitment, and governance.
According to his earlier announcement made while assuming office on Chaitra 13, 2082 (late March 2026), the government officially released the current economic status report on Baisakh 14, 2083 (late April 2026).
Wagle noted that it has been a tradition to publish such reports after major political or economic transitions. However, unlike the usual tendency to only criticize previous leadership, he took a more balanced approach. He acknowledged past achievements while also highlighting ongoing structural weaknesses.
He emphasized that Nepal’s key economic problems are not just about limited resources, but also about conceptual confusion, institutional fragility, and weak execution.
“To overcome these challenges, liberalization alone is not enough,” Wagle said. “What Nepal needs now is broad structural reform—reforms that promote competition, embrace innovation and technology, create opportunities for new entrepreneurs, and shift the economy away from rent-seeking toward sustainable, job-centered growth.”
