Скачать или смотреть Nepal's economy plunges into recession: Reports

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Nepal's economy has plunged into recession for the first time in 60 years, reports have suggested after the country this week forecast its growth rate would be only 2.16 per cent this fiscal year. The forecast from the National Statistics Office is however lower than the projections of the institutions such as the World Bank and the Asian Development Bank. The government had earlier projected economic growth to be 4 per cent during the mid-term review, which further has shrunken to 1.86 per cent as per the latest projection. Meanwhile, Nepal’s new President Ram Chandra Paudel has called the budget session of the Parliament from May 7. Experts say a lack of sound policy and prolonged political instability has taken a toll on the economy of the Himalayan nation.



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