January 11:  The World Bank (WB) has projected a five percent economic growth rate for Nepal in the fiscal year2024/2025. By releasing its Global Economic Prospectus-2024, the World Bank estimated that economic growth rate is to remain at 3.9 percent in the current fiscal year in Nepal.  

The anticipated growth is attributed to improvements in the industry and service sectors, supported by a flexible monetary policy and the removal of restrictions on selected imports. Despite these positive indicators, the global economy is expected to face ongoing challenges in 2024.

Factors contributing to the subdued global economic outlook include the adoption of tight monetary policies by central banks of major economies and a sluggish recovery in world trade and investment. 

The global economic growth rate is projected at 2.4 percent in 2024, reflecting the persisting pressures on the international economic landscape.

Additionally, concerns such as inflation and high-interest rates are expected to have adverse effects on consumers and the monetary market. (RSS)