COVID-19 Nepal: Economy to Fall by ‘NPR 168 Billion’

So far, Nepal has recorded 2,634 COVID-19 infection cases and 10 death cases. Currently, 2,334 patients are undergoing treatment across the country while 290 patients have recovered.

Coronavirus is continuing its spread across the world with around 6,714,464 confirmed cases in 188 countries. Nearly, 393,419 have lost their lives.

Currently, 3,059,679 patients are undergoing treatment with 3,004,223 in mild condition and 55,456 in critical condition. However, 3,261,366 patients were recovered successfully.

COVID-19 in Nepal:

Even though the coronavirus pandemic has not spread rigorously in Nepal, it has undoubtedly disrupted the country’s business activities and tourism.

According to the Nepal Rastra Bank (NRB), the nation’s economy is expected to incur around NPR 168 billion loss in the current FY ending in mid-July.

“These are our estimates of losses to national production only for this year due to COVID-19,” exclaimed Chinta Mani Siwakoti, NRB Deputy Governor.

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Moreover, the extent of total economic loss will depend on the lockdown period and revival of economic activities.

Earlier, the Nepali Government has decreased the economic growth forecast for the year to 2.3% from 8.5% due to the ongoing health crisis.

The government has implemented the nationwide lockdown until June 14, 2020. However, politicians, business groups and the public are pressing the government to re-open the economy before then.

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