Nepal Ranked the World’s Third Fastest-Growing Economy

June 12th, 2017

World Economic Forum, a Swiss non-profit foundation, has ranked Nepal as the third fastest-growing economy in the world for the year 2017. Nepal ranked third based on the projection of economic growth of 7.5 percent after Ethiopia (8.3 percent) and Uzbekistan (7.6 percent).

Nepal recovered its growth following a good monsoon, rebuilding activities after the 2015 devastating earthquake and normalization of trade with India.

India took the fourth spot in the rankings with 7.2 percent projected growth. The growth can be seen in terms of a rise in exports and a surge in government spending.

Djibouti and Laos with 7 percent and Cambodia, Philippines and Myanmar with 6.9 percent growth, are among the top 10 performers.