The economic growth rate of Nepal is projected to be 3.9% by the World Bank
Capital: The World Bank has forecast economic growth of 3.9 percent in the current financial year.
The World Bank has predicted satisfactory economic growth in the current year due to the removal of import restrictions, the revival of the tourism sector and the gradual easing of monetary policy.6 percent economic growth in the current year has been projected in the budget. Last year, Nepal’s economic growth was only 1.9 percent.
In the current year, the growth of the agricultural and industrial sectors is only normal, but the growth of the service sector is projected to be satisfactory. The growth rate of the agricultural sector will be 2.1 percent, the growth rate of the industry will be 3.2 percent and the growth rate of the service sector will be 5.1 percent, according to the World Bank.
The World Bank has drawn attention to the risk that agricultural production may decrease in Nepal due to the monsoon, the price increase of goods may be high and as India has banned the export of some goods, its impact may be seen on economic growth.
According to the World Bank’s half-yearly report Nepal Development Update released on Tuesday, economic growth will be 5 percent in the next financial year 2081-82.
According to the World Bank, this year’s economic growth has been projected taking into account the impact of the Lumpy Skin epidemic in Nepal. This year, although the growth of the agriculture and industry sectors will be normal, the growth rate of the service sector will be satisfactory, according to the World Bank.
As Central Bank has set a target of maintaining price growth at 6.5 percent in the current financial year, the World Bank has predicted that it will exceed the target set by Central Bank.The World Bank forecasts that the price increase will reach 7 and a half percent. In the last financial year, the price increase was 7.8 percent.
Similarly, the economic growth rate of South Asia is projected to be 5.8 percent by the World Bank.