CBS Projects 3.87% Growth for Nepal’s Economy This Year

The Central Bureau of Statistics (CBS) has forecasted that Nepal’s economy will grow by 3.87 percent in the current fiscal year 2080/81. This marks a significant increase from last year’s growth rate of 1.86 percent.

According to the Annual National Account Statistics released by CBS, the country’s Gross Domestic Product (GDP) is expected to reach Rs 5.7487 trillion, indicating an expansion of 3.54 percent based on fundamental values.

This government projection surpasses those of major international financial institutions. The World Bank predicts a 3.3 percent growth, the International Monetary Fund (IMF) expects a 3.1 percent increase, and the Asian Development Bank (ADB) has estimated a 3.6 percent growth for Nepal.

The private sector, represented by the Management Association of Nepal (MAN), has a more conservative estimate, projecting a 3.09 percent growth.

CBS’s report further details that the agricultural sector is expected to grow by 3.05 percent, while the non-agricultural sector might see a 3.75 percent increase. This diverse growth underscores a gradual strengthening in various sectors of Nepal’s economy compared to last year’s performance, where the economy expanded by 1.86 percent based on consumer price and 2.16 percent on the base price.

This positive outlook reflects robust governmental and sectoral efforts to revive and enhance the country’s economic trajectory following previous slower growth periods.