Xinhua, Kathmandu :
Nepal’s economy is projected to grow by 6.81 percent in the current fiscal year that concludes in mid-July, as the Himalayan country is witnessing over six percent growth rate three years in a row, Nepal’s Central Bureau of Statistics (CBS) said on Friday. Nepali economy grew by 7.74 percent in fiscal year 2016-17, the highest growth since fiscal year 1993-94.
In the last fiscal year 2017-18, the Nepali economy grew by 6.3 percent as per the revised estimate, according to CBS, the main government body that deals with the country’s vital statistics. The CBS produces the country’s national account projecting economic forecasts every year.
Ganesh Acharya, the director at the CBS told Xinhua that the projected growth rate for this fiscal is still impressive despite failing to meet the set target which stands at eight percent. “Rarely in the past has Nepal seen growth over six percent three years in row,” he said.
Economic growth in the last three years coincides with the improved political and economic situation as the Himalayan country achieved political stability after a prolonged political transition.
The projected strong growth in the current fiscal year is due to good agriculture production aided by favorable climate, good performance of the energy and industrial sector and equally impressive growth in the service sector, according to CBS.
Nepal’s economy is projected to grow by 6.81 percent in the current fiscal year that concludes in mid-July, as the Himalayan country is witnessing over six percent growth rate three years in a row, Nepal’s Central Bureau of Statistics (CBS) said on Friday. Nepali economy grew by 7.74 percent in fiscal year 2016-17, the highest growth since fiscal year 1993-94.
In the last fiscal year 2017-18, the Nepali economy grew by 6.3 percent as per the revised estimate, according to CBS, the main government body that deals with the country’s vital statistics. The CBS produces the country’s national account projecting economic forecasts every year.
Ganesh Acharya, the director at the CBS told Xinhua that the projected growth rate for this fiscal is still impressive despite failing to meet the set target which stands at eight percent. “Rarely in the past has Nepal seen growth over six percent three years in row,” he said.
Economic growth in the last three years coincides with the improved political and economic situation as the Himalayan country achieved political stability after a prolonged political transition.
The projected strong growth in the current fiscal year is due to good agriculture production aided by favorable climate, good performance of the energy and industrial sector and equally impressive growth in the service sector, according to CBS.
