Nepal’s economy has plunged into recession for the first time in 60 years. The country, on Tuesday, put a forecast at its economic growth rate – this fiscal year would be only 2.16%. However, the forecast from Nepal’s national statistical office is lower than the projections of the institutions such as the World Bank and the Asian Development Bank.
#nepal #nepalrecession #worldnews
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BREAKING: Recession News
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Nepal, a country nestled in the lap of the majestic Himalayas, has been hit by a severe economic recession. The country’s economy has hit the lowest mark for the first time in 60 years. The ongoing pandemic, coupled with political instability, has wreaked havoc on Nepal’s economy, resulting in widespread job losses, closure of businesses, and a plummeting GDP.
The pandemic has hit Nepal’s tourism industry particularly hard. Tourism has been a significant contributor to Nepal’s economy, with trekkers and climbers flocking to the country to scale the towering peaks of the Himalayas. However, the pandemic has led to a sharp decline in tourism, resulting in a significant loss of revenue.
Additionally, the country’s political instability has also contributed to the economic crisis. Nepal has faced a series of political crises in recent years, with frequent changes in government and widespread corruption. This has led to a lack of confidence among investors and a general sense of uncertainty in the business sector.
The International Monetary Fund (IMF) has forecasted that Nepal’s economy will contract by 2.9% in the current fiscal year, with a slow recovery in 2022. The economic slowdown has had a severe impact on the country’s citizens, with many struggling to make ends meet. The pandemic has exacerbated poverty levels and has pushed many households towards the brink of destitution.
The Nepalese government has taken several steps to address the economic crisis, including plans to increase spending on infrastructure projects, provide financial support to struggling businesses, and expand the country’s tax base. However, the pace of implementation of these measures has been slow, and many critics have urged the government to do more to address the crisis.
The economic downturn has highlighted the need for Nepal to diversify its economy and reduce its reliance on tourism. Nepal has rich natural resources, including water, minerals, and fertile land, which could be harnessed to support a diverse economy. Additionally, there is potential in developing the country’s manufacturing and services sectors, which could generate sustained economic growth.
In conclusion, Nepal’s economic recession is a significant challenge, and the government must take urgent measures to rebuild the economy. The pandemic has highlighted the need for resilience and diversification in the country’s economy, and a long-term strategy is crucial to support Nepal’s economic recovery. The international community must also step up its support for Nepal, providing resources and expertise to help the country navigate these difficult times.
Worst is expected for these puppets of Chima and US. THEY LIVE ON THE LEFTOVERS OF UK, US AND CHINA.
After king which government have invested anything in nepal no agricultural no industry not only politician but also most of the government staff are all corrupted … lets stop blame other country instead we should take full responsibility for this for always giving votes to wrong one .. prachanda kp sherbhadur all are criminal and those who are on their party they are equally responsible… lets bring deserving loyal educated one to government not one who don’t have ethical value
Whole world is facing crisis not only Nepal, you can see US, China, South Korea and so on. Don't be biased. It's obvious Nepal being small economy it has impacts but the growth rate is still positive and around 2%. The economy will come in shape soon.
Abbo jhole harru ko ni din bigryo.Kati samma jhola bok chan herum..voli tini haru ko chora ,chori le dukho pauda, 1,2 din jhole vayea ra hidde ko niskin cha.Kati din jhole hunchau??
A country run by a terrorist is doomed to fail
And people here are busy in useless protest against name change of states
Hope current Maoist government will fall apart. Majority of parties are sided with Rabi Lamichhane (ex-journalist) and his party which was just recently opened and has gained the trust of people is the third largest in parliament though it was just created 9-10 months ago.
This will tell how much Nepalese are fed up with KP Oli(UML), Prachanda(Maoist) and Sher Bahadur Deuba(Congress). Most of the time these are the parties that create headlines for corruption
CORRUPTION thats it . Without money or feeding the government officials under the table, nothing moves or any work gets done . How do I know ? I was a businessman back in Nepal.
corruption
Brace for immigrants INDIA
Dhoti lai Video banauna pari halyo. Yini haru le garda ta Nepal ko sab time asthirta mai biteko cha harek choti sarkar dhaleko cha ani afai thapadi piteko cha. Esto useless neighbor. Oli ko sarkar matra na dhaleko bhaye 5 barsa ma dherai change aauthyo nepal ma. Tesmathi covid aayi dyo Oli huda nepal ko development dekhera atteko thyo yini haru
Nepal economy is destroyed by Maoist front. That's China's game: both India and Nepal will never understand. When they will understand, it will be too late.
Is Nepal heading Sri Lanka way or ???
Due to corruption in high places @! I think
Or
Over- reliance on India
First look at your own country
Prachandey le dubayerai chodyo Nepal lai. Paila jantaa maryo aile desh.
Russia vs USA war made this
All the youth are going abroad , what do you expect ?