Country’s economy likely to increase by 2.7 percent in next FY: World Bank

KATHMANDU: Nepal’s economy is projected to grow by 2.7 percent in the next fiscal year (FY) 2021/2022, thanks to services in particular in place following the continuous relaxation of social distancing measures and vaccines rolled out for priority populations, according to the World Bank’s latest Nepal development update.

Agriculture is expected to perform well, supported by recent favorable monsoons. Exports could be a powerful platform to boost post-pandemic recovery and enable Nepal to transition towards green, resilient, and inclusive development, said the update unveiled amid an event here on Monday.