Nepal’s Economy to Grow by 5 Percent in 2024: IMF

February 1, 2024 | Investopaper

The International Monetary Fund (IMF) has forecasted that Nepal’s economy will grow by five percent in 2024, as outlined in its recent World Economic Outlook release. This aligns with the government of Nepal’s forecast of economic growth ranging from 5 to 6 percent.

The IMF’s global economic growth projection for 2024 is 3.1 percent, with the United States expected to have a growth rate of 2.1 percent in the same year, declining to 1.7 percent in 2025.

In contrast, India is projected to experience an economic growth rate of 6.5 percent in both 2024 and 2025. Meanwhile, China is forecasted to achieve a growth rate of 4.6 percent in 2024, with a slight dip to 4.1 percent in 2025.

Additionally, the IMF projects a 6.7 percent increase in consumer price inflation in Nepal for the year 2024.