World Bank projection of Nepal’s annual economic growth is static at 3.9%

March 5, 2022by reliance-admin0

Kathmandu, January 12

In its latest update of the economic growth of the gross domestic product of countries in the South Asian region, the World Bank has projected Nepal’s annual economic growth for this fiscal year at 3.9 per cent.

In October 2021 also, the bank had projected the same growth rate for the country this year, thanks to “the lifting of containment measures as vaccination picks up and tourism and migrant worker flow recover.” After one quarter, in its latest Global Economic Prospects report, the bank did not change its report.

The rate is much lower than the government’s 7 per cent target. It is 0.2 per cent lower than Asian Development Bank’s projection for this year.

According to the latest projection of the World Bank, Pakistan and Sri Lanka’s growth rates would be lower than Nepal’s whereas all other countries in the region will have better progress. The Maldives is expected to lead the regional table.

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