KATHMANDU: The Central Bureau of Statistics (CBS) has estimated that Nepal’s economic growth rate will be 3.87 percent this year.

This projection suggests an expansion of the economy by 3.87 percent in the current fiscal year.

In the details disclosed in the Annual National Account Statistics for the fiscal year 2080/81, CBS has forecasted a higher growth rate compared to the previous year.

Nepal’s economic growth rate was recorded at 1.86 percent last year.

CBS has indicated that Nepal’s economy is expected to reach Rs 5.7487 trillion.

Based on this fundamental value, CBS has projected an expansion of Nepal’s gross domestic product by 3.54 percent.

The government’s projection is higher than that of the World Bank, the International Monetary Fund, and the Asian Development Bank.

The World Bank has forecasted a 3.3 percent increase in Nepal’s economy this year.

Similarly, the IMF has projected a 3.1 percent expansion, and the ADB anticipates a 3.6 percent growth.

From the private sector, the Management Association of Nepal (MAN) has estimated a 3.09 percent economic growth.

According to the CBS, the current fiscal year 2080/81 is expected to witness a growth rate of 3.05 percent in the agricultural sector and 3.75 percent in the non-agricultural sector.

Last year, the economy expanded by 1.86 percent in terms of consumer price and 2.16 percent in terms of the base price.

Based on consumer price, Nepal’s economy reached Rs 5.348 trillion, the CBS revealed.

Last year, the revised economic growth rate (based on the base price) stood at 2.31 percent.