Kathmandu, November 1: Nepal posted an economic growth of 6.3 percent in the Fiscal Year (FY) 2017/18, according to a report entitled ‘South Asian Regional Update October 2018’ released recently by the International Monetary Fund (IMF).
The IMF attributed the high economic growth rate achieved by the country to the institutional and policy reforms.
Favorable climate, steady restoration after earthquake, availability of electricity in the industrial sector and smooth trade and transit have contributed to the economic growth.
According to the report, the inflation stood at 4.2 percent which is comparatively lower than in the previous years.
Previously, the Economic Survey of the government had forecast a growth rate of 5.9 percent for the current FY. Meanwhile, reports released by the World Bank and the Asian Development Bank had estimated lower economic growth rates than the government estimate.
