Nepal’s economy is anticipated to grow by 4.4 percent in the current fiscal year, ending mid-July, up from an estimated growth of 3.9 percent in the past fiscal year, according to the Asian Development Outlook released on Wednesday.
The flagship publication of the Asian Development Bank (ADB) said Nepal’s improved growth forecast is the result of a gradual recovery of domestic demand, addressing reforms in the private sector, and further revitalisation of tourism and related services.
ADB Country Director for Nepal Arnaud Cauchois said, “Key economic sectors, such as manufacturing and construction, which contracted in the last fiscal year, would expand this fiscal year owing to stable oil and raw material prices, increased…
