The Finance Ministry has begun preparations to implement a national strategy for Nepal’s transition from a least developed country (LDC) to a developing country.

At a meeting held at the ministry, Deputy Prime Minister and Finance Minister Bishnu Prasad Paudel instructed employees to actively engage and coordinate efforts to accelerate the preparation process.

Vice-Chair of the National Planning Commission, Prof. Dr. Shiva Raj Adhikari, emphasized the need for strong coordination among all stakeholders to ensure the transitional strategy remains relevant and timely. He stressed that policies, plans, and programs proposed in the upcoming budget for Fiscal Year 2025/26 must support this transition.

Adhikari noted that Nepal’s graduation is expected to enhance access to development and commercial investment, foster new business opportunities, and strengthen economic partnerships. However, he also cautioned that the transition could impact exports and employment.

Nepal is set to graduate from LDC status to a developing country in November 2026.-- RSS