The International Monetary Fund (IMF) has projected the Nepal economy to grow by 4.1% in 2022.
Making public its flagship publication ‘World Economic Outlook’ on Monday, the IMF has projected a 6.1% economic growth for Nepal in 2023.
“Economic growth in Asia and the Pacific is poised to slow more than previously estimated this year amid headwinds from the war in Ukraine, a resurgent pandemic, and tightening global financial conditions,” the IMF said in its executive summary.
“Regional GDP will expand by 4.9%, 0.5 percentage points less than we forecast in January and slower than last year’s 6.5% growth rate, according to our latest projections. We also estimate that inflation will rise faster in many countries, though from relatively low levels.”
The IMF projection is slightly higher than the recent projections of the Asian Development Bank (3.7%) and the World Bank (3.9%).
The government has set the growth target at 7% for 2021/22.
