Economist and Member of Parliament Dr. Swarnim Wagle has said that the narrative suggesting “nothing has happened in Nepal” does not reflect reality. Speaking at a program organized by the National Youth Council on Wednesday, he emphasized that Nepal’s economic progress over the past few decades should not be dismissed.
Wagle recalled that the economic liberalization introduced by the elected governments after 1991 (2048 BS) had placed Nepal on a new path of economic transformation. According to him, those reforms had once pushed the country’s economic growth close to an average of 7 percent.
He stated, “If the momentum achieved at that point had continued, Nepal’s economy today would have reached nearly USD 100 billion. But due to political instability, we have remained limited to an economy worth around USD 45 billion.”
According to Wagle, Nepal has been trapped in political and economic uncertainty for more than 15 years. He pointed to the incidents of Bhadra 23–24 as a clear example of this prolonged instability.
In his words, “Whether traveling across the country or abroad, I find the morale of young people declining. If we fail to manage this transition properly, the risk of regression will become even more serious.”
He said the recent rise of the Gen-Z movement indicates that the country is entering a new phase. With the right leadership and direction, this energy could guide Nepal toward a new economic and political trajectory.
Wagle stressed that the responsibility for steering the transition should now lie with the younger generation. He said,“Managing this transition is the duty of new faces, new parties, and those who believe meaningful change must be pursued.”
Criticizing the spread of negative narratives, he added, “The belief that everything is over and nothing can be achieved is wrong. Nepal has had moments of progress, and we must acknowledge those achievements as we move forward.”
Wagle said the next government formed after the upcoming elections must prioritize economic revival. According to him, dozens of legislative reforms are necessary to strengthen the country’s economic foundation.
