尼泊尔经济展现韧性：外汇储备创新高，通胀处低位

Core Insights - Nepal's economy is currently experiencing significant financial stability and growth, with a notable decrease in the consumer price index (CPI) year-on-year to 1.63% as of mid-December 2025, down from 6.05% in the same period last year [1] Economic Indicators - The decline in food prices, particularly an 8.54% drop in vegetable prices, is a major contributing factor to the reduced inflation rate [1] - Foreign exchange reserves have reached a historic high of 32014.7 billion Nepalese Rupees (approximately 2.213 billion USD), sufficient to cover over 18 months of import payments [1] - Remittances from overseas have surged by 35.6% within five months, totaling 8703.1 billion Rupees, becoming a crucial support for foreign exchange reserves [1] - Despite an increase in the trade deficit to 6496.8 billion Rupees, with exports rising by 58.2% and imports by 15.8%, the balance of payments remains healthy with a surplus of 4218.9 billion Rupees [1] Fiscal and Banking Environment - The government is facing a fiscal deficit, with revenues at 4063 billion Rupees and expenditures reaching 5644.6 billion Rupees [1] - The average lending rate of commercial banks has decreased to 7.26%, indicating an improving financing environment [1] - The Nepalese Rupee has depreciated by 5.1% against the US dollar, with the exchange rate reported at 144.37 Rupees per 1 USD as of mid-December [1] Structural Challenges - The current economic situation highlights the need for structural policy responses to address trade imbalances and fiscal spending pressures, despite the positive growth in remittances and inflation control providing some buffer for the economy [1]