The World Bank. (File Photo)
KATHMANDU: The World Bank has projected that Nepal’s economy will grow by 3.9 percent in the fiscal year 2021/22.
It is estimated to increase by 5.1 percent in FY 2022/23.
Nepal’s latest economic growth estimate is 2.1 percent higher than projected in 2020/21 and 1.4 percent in 2021/22.
The World Bank estimates that Nepal’s growth rate will be limited to 2.7 percent in FY 2020/21.
The World Bank has projected India’s economic growth to be 8.3 percent in 2021/22 and 7.5 percent in 2022/23.
In South Asia, the economy of Bangladesh and Bhutan are improving after India.
According to a report released by the World Bank on Wednesday, the economic growth rate in the South Asian region is projected to grow by 6.8 percent in 2021.
This estimate is 3.6 percent higher than previously projected. The World Bank estimates that global economic growth will grow by 5.6 percent in 2021.
It is also mentioned that the world economy has been moving towards rapid recovery from the economic crisis for the last 80 years.
The World Bank also concludes that the global economy is still at risk due to the forthcoming wave of COVID-19, economic tensions, and high debt.