nepals economy rebounding
Last Updated : GMT 09:07:40
Egypt Today, egypt today
Egypt Today, egypt today
Last Updated : GMT 09:07:40
Egypt Today, egypt today

Nepal's economy rebounding

Egypt Today, egypt today

Egypt Today, egypt today Nepal's economy rebounding

Workers
Washington - Arab Today

Nepal's economy is rebounding after a slowdown caused due to 2015 earthquakes and trade disruptions at the southern border, the International Monetary Fund (IMF) has said.

"Growth is projected to reach 5.5 per cent in 2016-17 and inflation is expected to undershoot the central bank's mid-2017 target of 7.5 per cent," the International Monetary Fund (IMF) said on Monday in its latest annual report on Nepal. 

"Nepal's economy is rebounding following a slowdown caused by the 2015 earthquakes and trade disruptions. The normalisation of economic activity is supported by a good monsoon, accommodative monetary policy, and rising government spending," it said.

The report said inflation had been decelerating due to base effects related to last year's trade disruption but is expected to remain above India's inflation.

"More recently, the authorities have also been able to advance reforms in a number of areas," it said.

The report said it expected growth to reach 5.5 per cent in 2016-17, supported by a good monsoon, accommodative monetary policy, and rising government spending.

While the government's vision is to graduate from least-developed country status by 2022 and achieve middle income country status by 2030, the frequent changes in government have held back progress in addressing infrastructure gaps, weak institutional capacity, and the difficult business climate, it said.

Nepal is now one of the largest recipients of remittances in the world, it said, adding that at 30 per cent of GDP in Fiscal Year 2015-16, remittances helped to reduce poverty, support the balance of payments, and boost the fiscal accounts through higher import-related revenues.

The top financial institution also said political uncertainty was likely to persist with several elections to be held in the coming months.

"The new government has increased recurrent spending to facilitate post-earthquake reconstruction but inefficiencies in capital budget management and implementation are holding back a scaling up of public investment to support medium-term growth," the report said.

The normalisation of economic activity, a favourable monsoon season, improved power supply, accommodative monetary policy and rising government spending-in part due to the disbursement of housing grants to earthquake-affected households and a hike in government wages and pensions are spurring a cyclical rebound, as evidenced in recent months by rising imports and tax revenues," it said.

Source :Times Of Oman

egypttoday
egypttoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

nepals economy rebounding nepals economy rebounding



GMT 12:50 2011 Saturday ,09 July

Injured Malaysian opposition leader in hospital

GMT 08:34 2014 Thursday ,06 February

Afghan police kill 1 militant, detain 2

GMT 19:06 2011 Tuesday ,02 August

Danone snaps up nutrition business of Wockhardt

GMT 13:13 2012 Friday ,23 March

Classic cars: BMW 507

GMT 14:54 2016 Thursday ,22 December

Cambodia attracts investment projects worth $1.88b

GMT 11:47 2012 Tuesday ,21 February

Lamborghini aventador beats Igloo every time

GMT 19:14 2011 Friday ,28 October

Barley Patch

GMT 17:18 2017 Wednesday ,15 February

Egyptian TV host Lubna Assal optimistic about future

GMT 08:50 2016 Tuesday ,06 December

Pottery craft brings fame to tiny Egyptian village

GMT 08:37 2016 Friday ,22 April

'Fully supports' ECB after German criticisms

GMT 09:16 2012 Monday ,11 June

Syrian Razan Ghazzawi honoured

GMT 10:49 2017 Friday ,28 April

BIM launched to enhance capital growth

GMT 00:13 2017 Saturday ,22 April

Research on to reverse climate change in Oman

GMT 14:39 2012 Thursday ,13 September

EBEL 100 Colour Strap Editions

GMT 07:28 2017 Thursday ,09 November

Iraqi forces bombed a tunnel for ISIS in Qaim

GMT 11:47 2012 Sunday ,20 May

Fighting rages in eastern DR Congo

GMT 07:10 2011 Tuesday ,26 July

Mulumbu pens new West Brom deal

GMT 21:59 2017 Tuesday ,07 February

Vietnam beat Malaysia 3-0 in U23 soccer friendly
 
 Egypt Today Facebook,egypt today facebook  Egypt Today Twitter,egypt today twitter Egypt Today Rss,egypt today rss  Egypt Today Youtube,egypt today youtube  Egypt Today Youtube,egypt today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

egypttoday egypttoday egypttoday egypttoday
egypttoday egypttoday egypttoday
egypttoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
egypttoday, Egypttoday, Egypttoday