May 9, 2017 09:56 AM NPT
KATHMANDU, May 9: At a time when the government, including other development partners like the World Bank and Asian Development Bank, has estimated the economy to grow by around 6 percent in the current fiscal year, the United Nations Economic and Social Commission for Asia and the Pacific (UN ESCAP) has put its estimate at far lower side of 4.6 percent.
Releasing the Economic and Social Survey of Asia and the Pacific 2017 last week, the regional arm of the United Nations Secretariat for the Asian and Pacific region said that the growth outlook ‘is set to improve to 4.6 percent in 2017 and 4.8 percent in 2018.’
“The medium-term outlook is supported by policy reform efforts to enhance the business environment, such as streamlining tax administration and offering new investment incentives,” read the statement issued by UN ESCAP after the launch of its annual report in Kathmandu on Monday.
“Ongoing construction of hydropower projects will also help the economy to reap the dividends of its abundant resources and spur manufacturing growth,” it added.