May 3, 2023 | Investopaper
In the current financial year 2079/80, the economic growth rate of Nepal will shrink to 2.16 percent.
According to the data published by Central Bureau Of Statistics, the country’s economic growth will remain at 2.16 percent in the current financial year at base prices.
In the budget of the current fiscal year, the government had set a target of 8 percent economic growth. However, it revised the estimate of growth to 4.5 percent.
The growth estimate is also lower than the estimate made by the Asian Development Bank and the World Bank. The Asian Development Bank and the World Bank have projected the economic growth rate of Nepal to be 4.1 percent for the year 2022/23 [2079/80].
The size of Nepal’s economy will reach Rs. 53.81 Kharba in the fiscal year 2079/80. In the previous fiscal year, Nepal’s GDP stood at Rs. 49.33 Kharba.