Remittance inflow aids economic growth

Projection by World Bank: GDP of Nepal to increase by 2.7% in 2021/2022

KATHMANDU: The World Bank has projected that Nepal’s Gross Domestic Product (GDP) will grow by 2.7 per cent in the fiscal year 2021/2022. According to the World Bank, the economy will recover by 5.1 per cent in 2023.

The World Bank issued a statement on Wednesday saying South Asia’s economy was projected to grow by 7.2 per cent in 2021 and 4.4 per cent in 2022.

The bank also hopes to increase the GDP of Bangladesh and Pakistan, including Nepal. The reason for the increase in GDP is said to be remittance inflow.

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