ADB predicts Nepal’s economic growth to reach 4.9 %

Nepal Views

Kathmandu: The Asian Development Bank (ADB) has predicted Nepal’s economic growth to reach 4.9% in current financial year.

Publishing September’s Asian Development Outlook report, ADB said Nepal’s economy was improving. Earlier, the ADB Outlook Report of April predicted the economic growth rate to reach 3.6%.

According to ADB, the growth of the agricultural sector will depend upon the harvest due to the timely completion of paddy plantations along with the normal monsoon. An increase in power generation capacity will support the industrial sector.

It is expected the increase in the arrival of tourists will lead to the expansion of the service sector, and support the growth of accommodation and food services.