Nepal’s economic growth rate to remain at 2.9 percent in 2021: IMF

KATHMANDU : The International Monetary Fund (IMF) has projected that the Nepali economy will grow by 2.9 percent this year.

Unveiling the World Economic Outlook, the IMF has projected that Nepal’s gross domestic product (GDP) will grow by 2.9 percent, which is above two point percent than the estimated figure by the World Bank. In a report last week, the World Bank projected the country’s economic growth rate at 2.7 percent.

The IMF has estimated that Nepal will grow by 4.2 percent and 5.2 percent respectively in the next two fiscal years. The statistics of the international organizations has kindled hopes that Nepal has started following a recovery path. According to the Central Bureau of Statistics, due to the effect of the pandemic, Nepal’s GDP witnessed a negative growth rate of 1.99 percent in the last fiscal year.

The IMF has also projected the inflation rate to remain at 4.2 percent this year.