Growth Projection

As the economy is struggling to come out of the crippling impact of recession, here is good news – it is gradually improving since the last fiscal year. According to an estimate of National Statistics Office (NSO), Nepal’s economy is set to grow by 3.87 per cent in the current fiscal year 2023/24. However, this preliminary projection is much lower than the government’s target of 6 per cent for the current fiscal. The size of economy is estimated to reach Rs. 5,704.87 billion in the current fiscal year from Rs. 5,348 billion last year. The upward trajectory of the economy has become possible with the expansion of the service sector. The economy has been reeling from crisis with outbreak of COVID-19 pandemic from the beginning of 2020. All areas of economy was brought to its knees and its repercussions are still felt in the commerce and business.