Nepal’s Economic Growth Rate To Be 1.8 Percent, Says World Bank

June 10, 2020 | Investopaper

The World Bank has projected that Nepal’s economic growth rate will shrink to 1.8 percent due to the Corona epidemic. Previously, the Nepal Government has estimated that the economic growth rate of Nepal to be 2.3 percent. Releasing the findings of the Global Economic Prospects, the latest World Bank study report on the global economy, the World Bank estimates that Nepal’s economic growth will improve to 2.1 percent in 2021.

According to the bank, economic growth will be limited to 1.8 per cent due to a significant decline in tourism.The World Bank report states that export-oriented industries have been affected and the downturn has hampered short-term economic activity.

The World Bank estimates that the global economy will grow at a negative rate of 5.2 percent in 2020. Growth is projected at 4.2 percent in 2021. The World Bank says the US economy will shrink by 7 percent in 2020 and China’s economic growth rate will reach 1 percent.

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