Nepal Poised for 6.2% Economic Growth in FY 2019<\/title>\n<meta name=\"description\" content=\"In its latest Nepal Macroeconomic Update released on April 03, 2019, ADB projected Nepal\u2019s economic growth rate at 6.2 percent for FY 2018-19 and 6.3 percent for 2020.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.nepalisansar.com\/business\/nepal-poised-for-6-2-economic-growth-in-fy-2019\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Nepal Poised for 6.2% Economic Growth in FY 2019\" \/>\n<meta property=\"og:description\" content=\"In its latest Nepal Macroeconomic Update released on April 03, 2019, ADB projected Nepal\u2019s economic growth rate at 6.2 percent for FY 2018-19 and 6.3 percent for 2020.\" \/>\n<meta property=\"og:url\" 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“The outlook is for a stable growth on the back of strong domestic demand, fueled by a larger budget allocation to sub-national governments and accelerated post-earthquake reconstruction,\u201d said ADB Country Director for Nepal Mukhtor Khamudkhanov<\/span>.<\/p><\/blockquote>\n

$\"Nepal$

Source: Asian Development Bank<\/p><\/div>\n

However, the country needs to address some challenges for smooth implementation of fiscal federalism and maintain fiscal discipline to achieve the expected growth.<\/p>\n

\u201cChallenges to smooth implementation of fiscal federalism and maintaining fiscal discipline at large could pose potential risks to the outlook. Nepal has the potential to achieve and sustain higher growth rate over a long period of time if these challenges are addressed,\u201d Mukhtor<\/span> adds.<\/p><\/blockquote>\n
Sector-wise<\/strong><\/h4>\n
ADB projects a positive outlook for the agriculture sector, which is likely to grow up to 4.5 percent from 2.8 percent of the previous year, favored by monsoons.<\/p>\n
This monsoon season is expected to boost Nepal\u2019s paddy<\/a> production to 5.5 million tons, giving an 8.4 percent year-on-year rise.<\/p>\n
Industry sector is another area poised for a growth rate, at around 7.1 percent supported by enhanced power supply and favored investment climate.<\/p>\n
Services sector is also expected to grow by 6.4 percent in FY 2019 as a result of positive trend in wholesale & retail trade and hotel industry, among other related areas, the report added.<\/p>\n
\n
Also Read<\/strong><\/p>\n
\n
FY 2018-19: Nepal Poised for Healthy, But Slow Economic Growth<\/a><\/li>\n
Nepal 2018 Highlights: Path of Progress Began! <\/a><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"
The Asian Development Bank (ADB) has come up with another new announcement on Nepal\u2019s economic growth.…<\/span><\/p>\n
Read more<\/a><\/div>\n
<\/p>\n","protected":false},"author":761,"featured_media":18317,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7042,10004,3],"tags":[12397,3932,12396,2948,1076,12398,98,12399,2994],"yoast_head":"\nNepal Poised for 6.2% Economic Growth in FY 2019<\/title>\n<meta name=\"description\" content=\"In its latest Nepal Macroeconomic Update released on April 03, 2019, ADB projected Nepal\u2019s economic growth rate at 6.2 percent for FY 2018-19 and 6.3 percent for 2020.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.nepalisansar.com\/business\/nepal-poised-for-6-2-economic-growth-in-fy-2019\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Nepal Poised for 6.2% Economic Growth in FY 2019\" 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