Nepal’s Economic Growth To Be 4.1 Percent In 2021/22: ADB
September 23, 2021 | Investopaper
Asian Development Bank (ADB) has projected Nepal’s economic growth to be 4.1 percent in the current fiscal year.
ADB released a report on Wednesday which states that the projected economic growth would be about half of what the government has set the target to achieve. The government had projected a growth rate of 7 percent.
Earlier, ADB had forecasted Nepal’s economic growth at 5.1 percent. However, it now estimates that it would decline due to high rates of covid infection and limited growth in tourism and services.
According to the report, the corona vaccine will help boost economic growth, as well as increase agricultural production and industry.
ADB Country Director Arnaud Cauchois said the increase in exports, as well as the contribution of the agricultural sector, including domestic production, would help boost economic growth.
