ADB projects Nepal’s GDP growth at 3.9% rate for current fiscal year

Kathamndu: The Asian Development Bank projects Nepal’s GDP growth rate for the current fiscal year will remain at 3.9%.

The ADB says the estimated growth is possible as economic activities come to normalcy following the continuation of the anti-Covid-19 vaccination campaign.

Nepal’s estimated growth was revised as Nepal’s paddy output shrank by 9% due to unseasonal rain in the current fiscal year earlier.

The ADB has also forecast Industry growth in Nepal to be at 4.1% in FY2022 and services are estimated to grow by 5.2%.

However, due to the fuel price hike following the Russian invasion of Ukraine, Nepal is likely to face 6.5% inflation this year.