Corruption and unjust laws weigh down Nepalese economy
Kathmandu ( AsiaNews) - Corruption, unfair labor laws and little freedom in the field of investments have contributed to Nepal's last places in the 2014 Economic Freedom Report compiled by the Wall Street Journal and the Heritage Foundation . The country has lost 0.3 percentage points compared to last year, finishing in 149 place out of 178 economies.
In South Asia - Afghanistan
excluded for reasons of war - India is in the lead (120th place) followed by Pakistan
(126th place) and Bangladesh (131st place) . All
of these countries still fall within the scope of those "for the most part
unjust", the penultimate sector before those economies that " repress
" investors .
The
result indicates that Nepal is in free fall in the field of economic freedom. In
2007, it finished ahead of India and Bangladesh, but has since slipped down the
list. According
to the editors of the Report, this drop can be explained by the lack of reforms
against corruption and in favor of freedom of investment, "Many members of
the government - the text says - have been accused or convicted of corruption .
But the most important politicians save themselves from investigations".
Nepalese economic analyst Professor Biswambhar Pyakurel said: "The report correctly indicates the weak aspects of our economy. But this is not a drama with quick action we can combat these negative phenomena". Shankar Koirala , Minister of Economy and Trade , said that " Nepal has problems in terms of economy , but the government is taking action to solve them".
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