KATHMANDU, June 6: The World Bank has assumed 7.1 percent as Nepal’s economic growth rate for the current fiscal year 2076/77.
The World Bank issued the report on Thursday. The report stated that the growth in Nepal’s economy is speeding up contributing to the assumption. According to Hans Timmer, South Asian Senior Economist, if Nepal is able to take benefits from economically powerful neighboring countries India and China, it can help Nepal to gain economically.
Revised interest rate corridor system introduced
Also, the report has stated that having stronger governing bodies in all three levels of the country could strengthen the overall development of the country.
Speaking at the program, Finance Minister Dr Yubaraj Khatiwada said that the country is still progressing though having a loss in the business sector. FM Khatiwada said that the loss incurring while increasing the business activities will not take the country downwards. Instead, this would increase the overall benefit of the country. “The government has focused on the agricultural sector for the economic development,” said FM Khatiwada.
Minister Khatiwada further clarified that the government’s focus is on producing domestic goods leading the country on the right track.
