World Bank estimates Nepal GDP 0.2 percent for 2019-20

Nepal’ Gross Domestic Growth remained just 0.2 percent, the World Bank said in its estimation for the 2019-20 fiscal year

Jan 07, 2021
Image
A

Nepal’ Gross Domestic Growth remained just 0.2 percent, the World Bank said in its estimation for the 2019-20 fiscal year. Interestingly, the projection is way below that what the World Bank had earlier estimated. 

In its June projections, the World Bank projected 1.8 percent GDP for Nepal in for 2019-20 fiscal year. It also said the country is estimated to grow by just 0.6 percent in 2020-21, 1.5 point lower than its earlier projections. 

Countries, especially in South Asia, that depend on tourism and travel suffered most, the report says. Tourism is one of the biggest segment of economies in the Maldives, Nepal, and Sri Lanka. 

The region is expected to grow by 3.3 percent. Bangladesh’s economy- the fastest-growing before the COVID crisis- decelerated by 2 percent for the same period. While India is expected to grow by 5.4 percent, it says, projections for Pakistan doesn’t look good. The country is expected to grow by just 0.5 percent. 

Forecast projections assume that a vaccine will be distributed on a wide scale in the first half of 2021.

Tweets about SAMonitor
SAM Facebook

DMM Thank you

SPS-NBN

News Behind the News Special Studies

Newsletter Subscription

The subscriber's email address.
Stay informed - subscribe to our newsletter.