Nepal Government Projects 3.5% Economic Growth Amidst Setbacks
Summary
Nepal's government projects a 3.5% economic growth for the current fiscal year, revising down from an earlier estimate of 6%, citing declines in agriculture and real estate sectors.
Key Points
- Nepal's GDP growth projection for the current fiscal year is revised down to 3.5% from 6%.
- Declines in paddy production and slowness in construction and real estate sectors contribute to reduced growth forecasts.
- Agriculture sector growth is expected at 1.36% in the first quarter, with some crops increasing and others decreasing.
- Industry and service sectors show positive growth estimates, with industry expected to expand by 5.44%.
- Average inflation for the first six months of the fiscal year is 1.7%, down from 4.97% the previous year.
