Nepal’s Economic Growth Rate Will Be 0.6 Percent In 2021: World Bank

January 7, 2021 | Investopaper

World Bank has projected that Nepal’s economic growth rate will be limited to 0.6 percent in 2021. According to the Global Economic Prospects report released by the bank on Tuesday, Nepal’s economic growth rate in 2020 is estimated to be 0.2 percent. The Covid-19 epidemic has increased poverty and unemployment in South Asia, according to a World Bank statement. The epidemic has also had a major impact on India’s economy. India’s economy is projected to decline by 9.6 percent in 2021, according to the report.

Countries like Maldives, Nepal and Sri Lanka, which depend on tourism, have also been affected by the epidemic. Bangladesh’s economy is projected to grow by 2 percent in 2021 while Pakistan’s economy is projected to decline by 1.5 percent.

The World Bank has projected that the South Asian economy will grow by 3.3 percent in 2021. Bangladesh and tourism-based countries like Bhutan, Maldives, Nepal and Sri Lanka are projected to have slower growth.



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