January 12, 2022 | Investopaper
World Bank has projected that Nepal’s economic growth will be 3.9 percent in the current fiscal year. The economic growth will slow as the third variant of the Corona, Omicron, expands rapidly.
The government of Nepal has projected economic growth of 7 percent in the current fiscal year.
According to the bank, the estimated global economic growth rate will be 4.1 percent in 2022 and 3.2 percent in 2023. In 2021, the world’s economic growth rate was 5.5 percent.
The bank has pointed out the need for the international community to unite and take initiative to get rid of this situation. In emerging and developing economies, governments have a weak policy base to address COVID-19, which has led to supply chain disruptions and inflationary pressures, the bank said.