Budget 2026/27: Soft power to be mobilized for economic diplomacy, prosperity

Kathmandu: The government is set to enhance its foreign relations by leveraging soft power to promote economic prosperity, as outlined in the Budget for the fiscal year 2026/27.

Finance Minister Dr Swarnim Wagle emphasised the importance of integrating economic diplomacy, cultural identity, technology, and tourism to bolster Nepal’s international presence and credibility.

The government aims to strengthen its role in multilateral and regional forums, including the United Nations, while promoting active and balanced diplomacy to foster regional cooperation. To expand Nepal’s soft power, the budget highlights the promotion of key cultural and natural assets, such as Lumbini, Mount Everest, and the country’s rich traditions in yoga and meditation.

The government plans to enhance economic diplomacy to support Nepali missions abroad, increase export capacity, boost bilateral trade, attract foreign investment, and promote tourism.

Additionally, the budget proposes modifications to the provision of non-resident Nepali citizenship to better align with contemporary needs, reinforcing the concept of ‘Once a Nepali, forever a Nepali.’ This initiative aims to integrate non-resident Nepalis into national development by safeguarding their economic, social, and cultural rights.

The government also intends to streamline banking, investment, property management, and service delivery processes to effectively utilise the skills and resources of Nepalis living abroad for the country’s development.

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