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WEEKLY NEWSLETTER
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Nepal
Index
After the First Five-Year Plan was introduced in
1955-56, the
budget was divided into two parts--regular and development
(see
table 11, Appendix). In a speech delivered on July 13,
1990, the
minister of finance presented a budget with four major
objectives:
to direct the development programs by eliminating the
existing
anomalies and by making them more realistic and
productive, as well
as overseeing their consistency in directly benefiting the
deprived
community; to rationalize the role of the private sector
and the
facilities provided by the government; to minimize the
increasing
hardship faced by the common people; and to start a
process of
repaying the accumulated financial liabilities of the
government.
Because the planned expenditures for development were
rarely met,
the 1990 budget lowered development expenditures to make
the plan
more realistic.
The 1990 budget allowed for total expenditures of
Rs19.8
billion. Revenue was estimated to be just over Rs10.1
billion. The
deficit was to be met through foreign grants (Rs2.5
billion),
foreign loans (Rs5.5 billion), and domestic borrowing. The
budget
was not unique in terms of the size of the deficit or its
dependence on foreign grants and loans, as this pattern
had existed
for more than three decades.
Data as of September 1991
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