After the Asian Development Bank (ADB), now the World Bank (WB) released its report on Nepal\u2019s economic growth prospects for the future.<\/p>\n
In its latest South Asia economic outlook report on April 07, 2019, WB noted that Nepal is poised for a 6 percent economic growth rate in FY 2018-19.<\/p>\n
\u201cIn Nepal, GDP growth is projected to average 6 percent over the medium term. The services sector is forecast to benefit from strong tourism and manufacturing will be supported by the opening of Nepal\u2019s largest cement factory next year,\u201d WB said in its release.<\/p>\n
While the growth is expected to be strong in the mid-term, WB said the country will need to consider few risk factors in its way forward.<\/p>\n
World Bank\u2019s Risk Factors for Nepal Economy include:<\/strong><\/p>\n \u201cThe poverty outlook is especially sensitive to remittance inflows, natural disasters and local level implementation capacity constraints that may hamper service delivery…\u201d<\/p>\n \u201cThe transfer of financial management staff over a year ago made it possible for local governments to prepare budgets and receive fiscal transfers of 8 percent of GDP in FY2018\/19. However, under-spending of the budget persists,\u201d WB<\/span> said in its release.<\/p><\/blockquote>\n However, WB economic growth projections for Nepal for FY 2019 are below ADB\u2019s expectations of 6.5 percent, IMF\u2019s 6. 5 percent and the government\u2019s own target of 8 percent.<\/p>\n \u201cIn Nepal, GDP growth is projected to average 6 percent over the medium term. The services sector is forecast to benefit from strong tourism, and manufacturing will be supported by the opening of Nepal\u2019s largest cement factory next year,\u201d the report added.<\/p>\n Also Read:<\/strong><\/p>\n After the Asian Development Bank (ADB), now the World Bank (WB) released its report on Nepal\u2019s…<\/span><\/p>\n\n
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