Nepal to Grow by 5.5%

The International Monetary Fund has projected that Nepal’s economy will grow by 5.5% in this fiscal, NewsNow reported. The outlook given by IMF is, however, a full percentage point lower than the government’s target of 6.5% growth in 2016-17. The IMF mission led by Geert Almekinders Tuesday said the Nepali economy will bounce back in this fiscal owing to normalization of economic activities, increased agriculture output due to favorable monsoon, accommodative monetary policy and accelerated post-earthquake reconstruction. Most importantly, the base-effect (low base of economy due to low growth) of last fiscal will be supportive for the economy to achieve the aforesaid growth rate, IMF said.