Growth in services sector expected to drive Nepal’s recovery

South Asia has an opportunity to shift gears from a traditional manufacturing-led growth model and capitalise on the potential of its services sector, World Bank report says.

A gradual recovery is underway in Nepal, boosted by the lifting of containment measures as vaccination picks up, and tourism and migrant worker flows recover, the World Bank said on Thursday, predicting that Nepal’s economy may grow by 3.9 percent in the current fiscal year ending mid-July 2022.