Kathmandu; International Monetary Fund(IMF) forecasts 1.8 per cent GDP growth for Nepal in current fiscal year.
The World Economic Outlook report made public today states that the slowdown in economic activities has resulted shrunk in GDP growth.
The IMF forecast is similar to the World Bank’s estimate of 1.9 per cent for this fiscal year. IMF expects the GDP growth will remain 4.4 percent in 2022 while World Bank’s forecast is 3.9 per cent growth for 2022.
The growth rate of India is expected to remain 9.5 per cent this year.
Pakistan’s GDP is forecast to grow by 3.9 per cent this year, and by 4 per cent the next. Bangladesh GDP growth remain by 4.6 per cent this year and 6.5 per cent the next year, according to the report. Sri Lanka’s economic growth is forecast to grow 3.6 this year and moderate to 3.3 next year.
Bhutan’s economy is forecasted to continue to shrink by 1.9 per cent this year, but grow by 4.2 per cent in 2022.The Maldives, whose economy shrunk by 32 per cent last year, is expected to rebound to 18.9 per cent this year and moderate to13.2 per cent next year.
In the WEO tables, China followed India with 8 per cent this year and 5.6 per cent the next year.
The global economy is projected to grow 5.9 per cent in 2021 and decline to 4.9 per cent in 2022.