World Bank projects Nepal’s economy to grow by 3.9 percent

NL Today

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Kathmandu: The World Bank has projected a 3.9 percent economic growth rate for Nepal in the Fiscal Year 2021-22.

In a ‘Shifting Gears: South Asia Economic Focus, Fall 2021’, the World Bank said the domestic vaccination is excepted to pick up and tourism and migrant worker flow will recover in the country.

The government has set a target to achieve a seven percent growth rate in the current fiscal year.

The report stated that South Asia’s recovery continues as global demand rebounded and targeted containment measures helped minimize the economic impacts of the recent waves of Covid-19.

But the recovery remains fragile and uneven, and significant risks exist that could jeopardize short-term recovery and long-term growth, reads the report.