The Economist: Nepal will be 8th fastest growing economy in 2020

Kathmandu, November 25

Globally renowned economic magazine, The Economist, has forecast that Nepal’s economic growth rate will be 6.9 per cent the next year.

The magazine, in its The World in 2020 issue released last week, claims that Nepal’s growth will be faster than India, which will have a growth rate of 6.7 per cent. However, it will be slower than the growth of Bangladesh, predicted to be at the rate of 7.7 per cent.

The magazine has listed Nepal in the eighth position among the fastest 10 growers that include Bangladesh, Nepal and India from the South Asian region.

Though the listing among the fastest growers seems encouraging, the magazine’s forecast is lower than the government target. The government had set a target of 8.5 per cent economic growth in its annual budget plan for the current fiscal year. Earlier this month, the government revised the target and made it 7.01 per cent.

Meanwhile, the World Bank and the Asian Development Bank have estimated the growth rate to be at 7.1 per cent for the current fiscal year.

Published on November 25th, Monday, 2019 11:49 AM

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