Nepal to experience worst economic crisis in history
KATHMANDU: Nepal’s economy has reached the most critical stage in its history. Almost all the indicators of the economy, which have been facing a serious crisis, are negative.
The statistics up to December of the current fiscal year 2021/22 shows that the economy of the country is in bad shape.
According to the statistics of Nepal Rastra Bank, the balance of payments has been in deficit of Rs 195.01 billion till December.
Similarly, the inflation rate of November and December was at 7.11 percent and 5.32 percent respectively.
The country’s foreign exchange reserves declined by 13.2 percent which was 11 percent in November.
Likewise, the net inflow remittance has also been declined sharply. According to the statistics, the remittance was declined by 6.8 percent.
Similarly, the imports have increased by 59.6 percent while the exports have declined.
On top of that, the trade deficit has increased by 54.7 percent at present.