Nepal’s Economy to Grow By 3.6 Percent in 2080/81: ADB
April 12, 2024 | Investopaper
The Asian Development Bank (ADB) forecasts a 3.6 percent growth for Nepal’s economy in the fiscal year 2080/81, surpassing the earlier World Bank projection of 3.3 percent for the current financial year. At a press conference, ADB released its ‘Asian Development Outlook’, highlighting Nepal’s government policies fostering flexibility in monetary strategies, boosting consumer and investor trust, and accelerating capital expenditure over the past six months.
ADB credits Nepal’s economic advancement to improvements in the credit sector, lowered interest rates, enhanced tourism and agriculture sectors, and the positive impact of operational hydropower projects on the industrial sector. Despite these gains, risks to Nepal’s economy include potential disruptions in the tourism and remittance sectors due to global economic shifts. ADB expresses its commitment to supporting Nepal’s prosperity and inclusivity through initiatives addressing poverty alleviation, climate change, and energy.
ADB’s projections suggest a decrease in Nepal’s average inflation rate to 6.5 percent in the current financial year.
