Nepal witnessed economic recession but quick recovery likely, economists say

There was negative growth in the last quarter of 2019-20 and first quarter of 2020-21. In the final analysis year-on-year growth in the last fiscal year was -1.99 percent.

Nepal’s economy faced headwinds, technically recording an economic recession for the first time in almost 40 years with the country witnessing negative growth rates for two consecutive quarters because of the Covid-19 pandemic-induced supply and demand shock on the economy.