KATHMANDU: The Asian Development Bank (ADB) has projected the economic growth rate of 6.5 in 2020. Releasing the ‘Nepal Macroeconomic Update’ on Friday, the ADB mentioned that increase in the capital expenditure, private sectors’ investment and development and expansion of huge physical infrastructures would contribute to the economic growth.
General monsoon, an improvement on electricity distribution and increase in tourists’ arrival are also favoring to ensure the 6.5 percent growth, the ADB said, adding that although the government had projected the economic growth rate of 8.2 last fiscal year, it made 7.7 percent.
According to the ADB, Nepal’s industrial sector would expand by 7.9 percent while service sector by 6.9 percent in 2020. However, the inflation that was 4.6 percent last fiscal reaches 5.5 percent next year, it is projected.
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