Nepal Rastra Bank Governor Maha Prasad Adhikari has defended the country’s economy, saying that everything is on the right track, with major financial indicators for the first eight months of the current fiscal year showing improvements. He said that the financial sector is sound and secure, and is able to withstand minor shocks. He also noted that increased remittance earnings of 25.3% have contributed to the growth in gross foreign exchange reserves of 15.2%, which have risen from Rs1,215.80bn ($10.86bn) in July 2022 to Rs1,401.21bn in March this year. The bank also said the current account remained at a deficit of Rs44.31bn compared to a deficit of Rs460.72 in the same period of the previous year, and that the country’s balance of payments remained at a surplus of Rs148.11bn in the review period as compared to a deficit of Rs258.64bn in the same period of the previous year.