Economic Diplomacy Helps Mitigate Crisis

Nepal is now reeling from significant economic challenges. In the country, agricultural and industrial production is declining, exacerbating the trade deficit and unemployment. Most business activities are declining as well. The inflation rate of 8.19 per cent is eroding the people's purchasing power. Growing economic trouble has forced the bulk of youths to desert the nation in search of better job prospects in international labour markets. Every year, thousands of young brains relocate to other nations. The labour force and human resources available to the country for economic growth are being further depleted by this trend.