Nepal’s economy is projected to grow by just 0.6 percent in the current fiscal year 2020-2021, inching up from an estimated 0.2 percent in 2019-20 as lockdowns promoted by COVID-19 disrupted economic activity, especially tourism, according to the World Bank’s latest South Asia Economic Focus.

Released on Thursday, the twice-a-year-regional update notes that South Asia is set to plunge this year into its worst-ever recession as the devastating impacts of the pandemic on the region’s economies linger on, taking a disproportionate toll on informal workers and pushing millions of South Asians into extreme poverty.

The report forecasts a sharper than expected economic slump across the region, with regional growth expected to contract by 7.7 percent in 2020, after topping 6 percent annually in the past five years.

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