Can Nepal's Ailing Economy Be Cured ?

Nepal’s economy has remained sluggish since the emergence of COVID-19. Domestic production fell sharply, and supply chains got disrupted because various tough measures, including lockdowns, were in place to control the spread of the killer viral disease. The fast-transmitting disease took its toll on the health of people and the economy around the world. Following the outbreak of the pandemic, the country saw a considerable drop in domestic market demand, resulting in less investment, owing to low credit growth. That led to a loss of many jobs. The pandemic’s effects on Nepal’s economy are still prevalent. The country has witnessed less capital spending, credit recovery issues, slackness in the real estate sector and cooperative frauds over some years. These have also been key obstacles to the revival of the national economy.