Kathmandu, 13 April: Nepal’s economy is projected to grow by 2.7 percent in the next fiscal year (FY) 2021/2022, thanks to services in particular in place following the continuous relaxation of social distancing measures and vaccines rolled out for priority populations, according to the World Bank’s latest Nepal development update.
Agriculture is also expected to perform well supported by recent favorable monsoons. Exports could be a powerful platform to boost post-pandemic recovery and enable Nepal to transition towards green, resilient, and inclusive development, said the update unveiled amid an event here on Monday. The update notes that the tourism sector may not fully recover without reforms to readjust to a post-Covid-19 tourism market. The current account deficit is expected to widen marginally in the FY 2021/22 to 1.2 percent of gross domestic product (GDP) as imports and remittances recover modestly while exports remain apathetic.
People’s News Monitoring Service
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