The participation on the first day of 2023 National Economic Summit has been positive.

Minister for Finance, Professor Biman Prasad says it is important that the government listen to the stakeholders and formulate mid and long-term strategies based on the discussion.

Prasad says we know there are some macroeconomic problems, but the summit will provide reasons behind the problems.

Finance Minister, Professor Biman Prasad. 

He adds that dealing with issues as complex as ours is not easy.

“We know what our debt level is. We know what’s happening to poverty and social welfare. But what are some of the reasons behind this. And what is happening in institutions and the way people are doing things, all that is coming out. It is important that, as a government, we listen to this.”

Prasad says that in the economic life of the country, the summit is the beginning of genuine, open, consultation in an effort to meet our critical economic challenges.

He adds that they are trying to navigate economic policy in a new direction and re-learning the skills.

The summit continues tomorrow with discussions on the state of the economy.

The outcomes of the summit will feed into the upcoming budget and potentially a new national development plan in the future.

You can watch the plenary sessions live on FBC 2 and also on our FBC News Facebook.