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World Bank projects 5 per cent economic growth rate in 2024/25

Metakhabar by Metakhabar
January 11, 2024
in Auto, Business, News, Society
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Govt completes one year; Economy heading on right path
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Kathmandu, Jan 11: The World Bank (WB) has projected five percent economic growth rate of Nepal for the fiscal year, 2024/25.

Issuing a ‘Global Economic Prospectus, 2024’, the WB estimated positive development in economic status in 2024/25 as compared to the previous year. However, in the current fiscal year, the economic growth rate will remain 3.9 per cent.

The economic growth rate is expected with improvement in industry and service sectors. Similarly, flexible monetary policy and lift on ban of selected import will contribute positively, the WB said.

Moreover, the pressure the global economy is undergoing will continue in 2024 as well.

In the global scenario, tight monetary policies adopted by central banks of large economies, and world trade and investment waiting for smooth recovery are behind low economic growth rate.

Similarly, inflation and high interest rate are to impact adversely on consumers and monetary market.

The global economic growth rate is projected at 2.4 percent in 2024.

 

Tags: #5 percent economic growth projection#Nepal's economic growth#WB#World Banknepal
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Address to UN Conference on LLDCs: Geography must no longer determine destiny: PM Oli
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Address to UN Conference on LLDCs: Geography must no longer determine destiny: PM Oli

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August 5, 2025
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Awaza (Turkmenistan), Aug 5: Prime Minister KP Sharma Oli has said geography must no longer determine destiny. "With strengthened partnerships,...

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