Kathmandu, Nepal: According to a government department, Nepal’s economic growth rate was -1.99 percent last financial year (2019/20), with the Covid-19 contagion wreaking havoc on the country’s already troubled financial stress.
According to a study released by the National Planning Commission’s Central Bureau of Statistics, Nepal had a declining economic activity trend from period of mid-July 2019 to mid-July 2020. The data shows the negative steps.
This is a much more serious incident than it was after the 2015 giant earthquake jolts.
According to the bureau’s calculations, the nation’s economy expanded at null in fiscal year 2015/16.
The average was -15 percent in the final quarter of the fiscal year.
Despite the administration’s goal of achieving a 2.7% growth rate for fiscal year 2020/21 (from mid-July 2020 – mid-July 2021), the department reports that the rate was -4.6% in the first quarter.
The report was generated up to mid-October 2020 which is dark news for the country itself.
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