Nepal Can Prosper by Aligning with the Economic Rhythm of Its Neighbors: Dr. Baburam Bhattarai

Dr. Baburam Bhattarai, Chairman of Naya Shakti Party and former Prime Minister, stated that Nepal has the potential to break free from the vicious cycle of poverty and unemployment if it aligns its growth strategy with the major economies of neighboring countries.

Speaking at the launch event of the book "Arthadrishti: Artharajniti of Underdevelopment" on Friday, Dr. Bhattarai emphasized the need for Nepal to move in sync with the global economy, particularly the powerful economies in its neighborhood.

He remarked, “If Nepal can align itself with global momentum in a new way—especially with the major economies of neighboring countries—it can rise above the challenges of poverty and unemployment.”

Dr. Bhattarai also pointed out that despite achieving political change, Nepal has failed to build strong institutions. He stressed the need to strengthen bureaucratic, financial, political, and anti-corruption institutions to support structural development.

“We need to ask why we are lagging behind. We’ve fallen back by a century historically. Now, we must move forward structurally. We’ve brought political change, but failed to build strong institutions. From bureaucratic reforms to strengthening financial, political, and anti-corruption institutions—this is the need of the hour,” he said.

He further highlighted the importance of transforming Nepal’s economy from agriculture-based to an industrial one, alongside significant reforms in financial and monetary policies. If state institutions can drive development with such reforms, he believes Nepal can achieve prosperity.

“The way forward lies in growth, distribution, and sustainability,” he concluded. “If we take this seriously, Nepal can truly transform.”