“Nepal’s economic growth rate will stand at 5.5% in 75/76’ says Asian Development Bank

Asian Development Bank (ADB) has projected that the economic growth rate of Nepal will stand at 5.5% in the current FY 2075/76. In the previous FY, it stood at 5.9%.

As per ADB, the growth rate is much higher than the average growth rate of last 10 years wich is just 4.3%. The projected growth rate has been stated as the result of stable government, good monsoon and implementation of big projects.

Due to the rainfall being good this season, the agriculture sector seems to get benefitted. Along with it, 456 MW Upper Tamakoshi Project is also supposed to be completed within this fiscal year.

Similarly, due to the availability of electricity and focus provided to production and construction sector, the Industrial sector will increase by 7.2% in the FY 2075/76 which is a decline from previous year’s 8.8%.Servic sector is expected to rise by 6.9% as compared to previous years’s 6.6%.