The Nepal Development Update is produced twice yearly with two main aims: to report on key economic developments over the preceding months, placing them in a longer term and global perspective; and to examine (in the Special Focus section) topics of particular policy significance. The Update is intended for a wide audience including policymakers, business leaders, the community of analysts and professionals engaged in economic debates, and the general public.
Gross domestic product (GDP) growth in Nepal is estimated at 7.1 percent in FY2019, driven mainly by the service and agriculture sectors. The service sector is likely to grow by 7.5 percent due to a boost in the retail, hotel, and restaurant sub sectors, driven by an uptick in tourist arrivals and remittance-fueled private consumption. Agriculture is estimated to grow by 5 percent in FY2019, well above its 30-year average of 3.1 percent, due to good monsoons, increased commercialization, availability of fertilizers and seeds, and improved irrigation facilities. Industrial growth is also likely to be strong at 8.1 percent, well above its 30-year average of 5 percent, mainly due to improved power availability from increased electricity generation. Private investment and consumption are likely to be the main contributors to growth on the demand side. However, public investment is projected to contract due to a slowdown in post-earthquake reconstruction and delays in national pride projects like Melamchi water supply and Upper Tamakoshi hydroelectric.
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Publisher:
World Bank
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(2019
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Type / Script:
Progress Report
in English
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Keywords:
DEVELOPMENT, DEVELOPMENT INDICATORS, ECONOMIC TRENDS, AGRICULTURAL DEVELOPMENT
ENTERPRISE DEVELOPMENT, INDUSTRIAL DEVELOPMENT, LOCAL DEVELOPMENT, NATURAL RESOURCES DEVELOPMENT, SUSTAINABLE DEVELOPMENT,TOURISM DEVELOPMENT,DEVELOPING AREAS, ECONOMIC ASPECTS, ECONOMIC DEPENDENCE, ECONOMIC GAP, ECONOMIC GROWTH
ECONOMIC PLANNING, ECONOMIC SECURITY,GREEN ECONOMY, NATURAL RESOURCES POLICY
REGIONAL PLANNING, REHABILITATION PROJECTS, RURAL DEVELOPMENT
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Thematic Group:
WB
:
World Bank
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Thesaurus:
02.04.00
- Development
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Reference Link:
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