CBS forecasts 5.84 percent economic growth for running 2021/22 fiscal

KATHMANDU: The Central Bureau of Statistics (CBS) has forecast an economic growth rate of 5.84 percent for the current fiscal year 2021/22.

Speaking at a press conference in Kathmandu on Thursday on National Accounts, the CBS, based on data of six to nine months of the current fiscal, projected that Nepal’s economic growth rate would be higher than last fiscal year.

In the corresponding period of the previous fiscal, the economy had grown by 3.83 percent.

National Planning Commission (NPC) member Dr. Ram Kumar Phuyal said the size of national economy, on the basis of base price, was Rs 4.1 trillion, and on the basis on consumer price, it was Rs 4.8 trillion.

According to him, Gross Domestic Product (GDP) per capita for the current fiscal year stood at 1,372 US dollars and gross national income (GNI) per capita equaled 1,381 US dollars.

He added that imports are likely to equal Rs 1.8 trillion and exports Rs 320 billion in the current fiscal.

The CBS said agriculture, forestry and fisheries accounted for the highest contribution of 23.95 percent; wholesale and retail trade accounted for 16.40 percent and real estate contributed 8.79 percent to the national GDP.