World Bank forecasts 5% growth in Nepal

World Bank forecasts 5% growth in Nepal

Kathmandu, Oct 4: The World Bank has estimated that Nepal’s economic growth rate in the current fiscal would be limited to five percent.

Nepal has had a difficult year due to the earthquake, border disruptions with India, and reduced remittances. Its economic activity is recovering with growth expected to rebound to 5.0 percent in 2017, after a weak year 2016 at only 0.6 percent growth, the Bank stated in its half-yearly report on the South Asia’s economy issued today.

Agriculture and construction are expected to improve on the account of a good monsoon, while increased disbursements of housing reconstruction grants will help as well, the report adds.