Nepal’s GDP is projected to grow by 2.7 percent in the coming fiscal year

KATHMANDU: WEDNESDAY, MARCH 31, 2021 – The World Bank has projected that Nepal’s gross domestic product (GDP) will grow by 2.7 percent in the next fiscal year and 5.1 percent in the next fiscal year.

The bank has projected an increase in GDP based on an increase in remittance inflows.

According to the Bank’s semi-annual regional report on the South Asian economy released today, Bangladesh’s GDP is projected to grow by 3.6 percent, India’s by 10 percent and Pakistan’s by 1.3 percent in 2021/22.

“South Asia’s economic growth is expected to improve next year and the region’s economy will be on the path to recovery,” the report said.

Stating that many businesses have been affected due to COVID-19, revenue collection has been reduced and millions have become unemployed, the report said that employment opportunities will be further affected, income will decrease and inequality will increase.