The latest edition of the World Economic Outlook (WEO) from the International Monetary Fund (IMF) has projected Nepal’s economy to grow by 6.5 per cent in the current fiscal year 2018-19.
Though the government has kept economic growth target at 8 per cent for the current fiscal year, on Sunday, the World Bank projected Nepal's economy to grow by 6 per cent in the current fiscal year 2018-19, while the Asian Development Bank (ADB) – in the first week of April – projected Nepal’s economy to grow by 6.2 per cent in the current fiscal year.
According to the report released today during the ‘2019 Spring Meetings of the World Bank (WB) and the International Monetary Fund (IMF)’, the gross domestic product (GDP) of Nepal is expected to grow by 6.5 per cent in the current fiscal year and 6.3 per cent in the next fiscal year 2019-20.
The projection is a reiteration to the recent forecast of its ‘Article IV mission’ that visited Nepal in December last year. Earlier, in its Article IV mission’s report, the IMF had projected the growth to reach 6.5 per cent supported by greater political stability and a more reliable supply of electricity.
But the IMF mission had cautioned Nepal about the risk of higher growth, stating that the current economic expansion also comes with some challenges that need to be carefully managed. The IMF team had proposed a measured tightening of policies to safeguard macroeconomic and financial stability.
Though the government has kept economic growth target at 8 per cent for the current fiscal year, on Sunday, the World Bank projected Nepal's economy to grow by 6 per cent in the current fiscal year 2018-19, while the Asian Development Bank (ADB) – in the first week of April – projected Nepal’s economy to grow by 6.2 per cent in the current fiscal year.
According to the report released today during the ‘2019 Spring Meetings of the World Bank (WB) and the International Monetary Fund (IMF)’, the gross domestic product (GDP) of Nepal is expected to grow by 6.5 per cent in the current fiscal year and 6.3 per cent in the next fiscal year 2019-20.
The projection is a reiteration to the recent forecast of its ‘Article IV mission’ that visited Nepal in December last year. Earlier, in its Article IV mission’s report, the IMF had projected the growth to reach 6.5 per cent supported by greater political stability and a more reliable supply of electricity.
But the IMF mission had cautioned Nepal about the risk of higher growth, stating that the current economic expansion also comes with some challenges that need to be carefully managed. The IMF team had proposed a measured tightening of policies to safeguard macroeconomic and financial stability.
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