Fiscal Nepal
First Business News Portal in English from Nepal
KATHMANDU: The government has projected economic growth rate of 5.84 per cent for the current fiscal year 2021/22.
According to the Economic Survey 2021/22 presented by Finance Minister Janardan Sharma in the House of Representatives on Saturday, the economic growth rate is expected to be higher than the previous year. However, this is lower than the growth projection of 7 per cent made by the government.
Meanwhile, the International Monetary Fund has projected that the world economy will expand by only 3.6 per cent in 2022.
Due to the unseasonal rains and spread of Omicron virus, the economic growth rate could not be achieved as per the target in the current fiscal year.
The economic growth was 4.25 per cent in the last fiscal year 2020/21.
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