Economic growth to slump to 2.27pc in current fiscal

KATHMANDU: The Central Bureau of Statistics (CBS) has forecasted Nepal’s economic growth to slump to 2.27 per cent (in basic price) in the current fiscal year against government’s projection of 8.5 per cent growth for the year.

The CBS today said that different economic indicators is being and will be badly hit by the unfavourable situation resulted by the COVID-19 pandemic and this would directly bring down the economic growth significantly. The country had achieved economic growth of 6.75 per cent in the last fiscal and 6.35 per cent in the previous year.

Among others, CBS has stated that hotels, restaurants, and international transportation are the majorly affected sector by the pandemic contributing to bring down the economic growth.