KATHMANDU, April 3: The consumer price inflation in Nepal is expected to remain high at 6.7 percent in 2024, close to the central bank's 6.5 percent ceiling, due to VAT exemptions removal, India's food export restrictions, and increased paddy minimum support prices.

KATHMANDU, Feb 7: The government aims to increase the size of the country's gross domestic product (GDP) by around Rs 2.9 trillion in the next five years. As the 15th Plan is nearing completion, the National Planning Commission (NPC), which has prepared the draft of the 16th Plan, has set a target of raising the country's GDP to around Rs 8.5 trillion by the fiscal year 2028/29.

KIEV, Oct 10: Ukrainian President Volodymyr Zelensky has signed a decree to spend at least 21.6 percent of the country's gross domestic product (GDP) in 2024 on national defense, the Interfax-Ukraine news agency reported Tuesday.

KATHMANDU, Oct 5: In its recent South Asia Development Update and Nepal Development Update, the World Bank (WB) has projected that Nepal's gross domestic product (GDP) growth rate will contract to 1.9 percent in 2023. However, there is optimism for the future, as the World Bank anticipates an upturn in economic growth next year, with a projected rate of 3.9 percent in 2024 and 5 percent in 2025.

KATHMANDU, June 8: Due to the lack of industrialization in the country, the contribution of the industrial sector to the Gross Domestic Product (GDP) is low. Although the government has been saying every year that it will create an industrial-friendly environment and increase domestic production, the production has not been able to increase.

KATHMANDU, May 17: Bagmati Province is projected to achieve the least economic growth rate in the current fiscal year.

KATHMANDU, May 2: The economic growth rate of the country is expected to be almost four times lower than the government’s target in the current fiscal year, says the National Statistics Office (NSO).

KATHMANDU, May 6: Bagmati Province, which also has the federal capital of the country, is estimated to contribute over one-third to the country’s gross domestic product (GDP) while the contribution of Karnali Province to the national GDP will stand below five percent in the current fiscal year.

KATHMANDU, Dec 3: About half of the transactions in Nepal’s service sector take place in Bagmati Province, where the country’s Federal Capital Kathmandu lies.

KATHMANDU, August 28: Nepal’s public debt has reached 40.5 percent of the country’s gross domestic product (GDP), with the government relying more on borrowed money to meet its financial obligations due to low revenue collection amid impacts of the COVID-19 pandemic.

KATHMANDU, August 11: Nepal’s public borrowing has reached 40.5 percent of the country’s gross domestic product, shows the whitepaper on the country’s economy that the Sher Bahadur Deuba-led government issued on Tuesday.

KATHMANDU, Nov 26: The ratio of revenue mobilisation to the gross domestic product (GDP) stood at 22.33 percent during fiscal year 2019/20 following a slump in revenue collection due to COVID-19. This is less than 1.65 percent point as compared to the previous year.

All Eyes on South Korea

March 18, 2020 09:49 am

LONDON – South Korea is all the rage these days. Earlier last month, Parasite, from the South Korean filmmaker Bong Joon-ho, won Best Picture at the Academy Awards. Having read the reviews and seen the film a few days earlier, I was not surprised. Still, for the uninitiated, it is worth noting that this was the first time that a foreign-language film took home the top Oscar. Now, many around the world are eagerly searching for more examples of South Korean coolness—from K-pop to cutting-edge fashion designers.

Global Economy Without a Cushion

February 4, 2020 12:10 pm

NEW HAVEN – With the benefit of full-year data, only now are we becoming aware of the danger the global economy narrowly avoided in 2019. According to the International Monetary Fund’s latest estimates, world GDP grew by just 2.9 percent last year—the weakest performance since the outright contraction in the depths of the global financial crisis in 2009 and far short of the 3.8 percent pace of post-crisis recovery over the 2010-18 period.

The crisis of 2020

December 25, 2019 09:37 am

NEW HAVEN – Predicting the next crisis—financial or economic—is a fool’s game. Yes, every crisis has its hero who correctly warned of what was about to come. And, by definition, the hero was ignored (hence the crisis). But the record of modern forecasting contains a note of caution: those who correctly predict a crisis rarely get it right again.

Argentina needs intensive care

September 24, 2019 00:25 am

WASHINGTON, DC – Imagine a man who has lived too extravagantly and eventually must go to the doctor for treatment of an acute disease, along with several other chronic conditions. The doctor prescribes a ten-day course of antibiotics, and advises his patient to start taking better care of himself. After three days of taking the pills and following the doctor’s orders, the man feels much better. But he finds the quiet life painful, so he forgets the medicine and his doctor’s advice and doubles down on debauchery.

KATHMANDU, Sept 21: Prime Minister KP Oli has announced that the government will increase the size of the economy to Rs 5 trillion within his current tenure. The current gross domestic product (GDP) stands at Rs 3.5 trillion.

Rebooting Nepali economy

August 27, 2019 01:05 am

Nepal is among the least developed nations with around one-fourth of its population living underneath the poverty line. It is heavily dependent on remittances, contributing to as much as 30 percent of GDP. Agriculture is another pillar of our economy, providing jobs to nearly 66 percent of population.

BEIJING, July 15: China’s economic growth slowed to 6.2% in the second quarter, its weakest pace in at least 27 years, as demand at home and abroad faltered in the face of mounting U.S. trade pressure.

Why GDP still matters

June 25, 2019 00:30 am

GDP remains the single best indicator to guide government policies. Ignoring it in favor of alternative measures of wellbeing is likely to lower people’s overall quality of life

KATHMANDU, June 7: Nepal has the potential to double its Gross Domestic Product (GDP) per capita in the long run if it achieves the benchmarks of complete education and full health, the latest report of the World Bank states.

Finland came out on top of the United Nation’s World Happiness Report. The top 3 countries are all Nordic countries, with the region yet again living up to its reputation as one of the happiest regions in the world. New Zealand and Canada are the only non-European countries to make it into the top 10 happiest countries. The US and UK switched places in the ranking between the 2014 and 2016 period and the 2016 and 2018 period. Over the past two years the United States and the United Kingdom ranked 19th and 15th, respectively.

What will succeed GDP?

March 3, 2019 01:30 am

GDP may be toppling from its throne, but there is a long way to go before another composite indicator is crowned in its place

Economic case for road safety

January 30, 2019 01:00 am

If Nepal doesn’t act to reduce road injuries it might lose seven percent of GDP growth in the next two decades

How much of a country's GDP equals the wealth of its billionaires

KATHMANDU, April 28: The Saving habits of Nepalis is expected to improve significantly in the current fiscal year, indicating that people are investing more than they used to about two and half decades ago.

KATHMANDU, April 27: Agriculture and Forestry sector is estimated to contribute 27.10 percent to Gross Domestic Product (GDP) of the country in the current fiscal year.

KATHMANDU, April 19: The World Bank has estimated that the transition costs of restructuring the government in the new federal set up would be at 3-4 percent of GDP per year over the next four years.

KATHMANDU, April 19: The World Bank has estimated that the transition costs of restructuring the government in the new federal set up would be at 3-4 percent of GDP per year over the next four years.

KATHMANDU, Feb 21: Direct contribution of travel and tourism sector to the country's Gross Domestic Product (GDP) is estimated to have increased by 6.8 percent to Rs 91 billion in 2017, a study conducted by World Travel & Tourism Council (WTTC) shows.

BEIJING, Oct 25: China will not set a target to double gross domestic product (GDP) from 2021, a senior Communist Party official said on Thursday, as top leaders pledge to focus on better quality economic growth in the long term.

KATHMANDU, June 19: Confederation of Nepalese Industries (CNI) has urged the government to invest at least 10 percent of the country's total gross domestic product (GDP) in infrastructure projects.

Adoption of GIS tech helps boost GDP

April 19, 2017 23:30 pm

Agendra Kuwar is the president of Esri India that specializes on GIS technology. Kuwar was recently in Kathmandu to participate in the company’s first user conference in the city. Republica’s Prasansha Rimal caught up with Kuwar to talk about the company and its plans.

KATHMANDU, Jan 20: Nepal's gross domestic product (GDP) could reach Rs 13,100 billion (over $120 billion) in 2045, which is 39 percent more than with existing trading mechanisms, with accelerated power trade (APT) between India and Nepal, according to a report.

KATHMANDU, July 28: The revised Nepal Trade Integration Strategy (NTIS) has set a target of contributing at least 4 percent of gross domestic product by 2020 through export of products and services listed in the country's trade strategy document.