The National Statistics Office (NSO) projects Nepal's economy to grow by 3.87 percent (at consumer price) in the current fiscal year. Comparatively, the economic growth was 1.95% in the last fiscal year and 5.63% in the fiscal year 2021/22. The estimated size of Nepal's economy is set to reach Rs 5704 billion in the fiscal year 2023/24, up from Rs 5338 billion in the previous fiscal year, as per the revised NSO estimate. The NSO forecasts a growth rate of 3.05% for the agricultural sector and 3.75% for the non-agricultural sector in the current fiscal year.

Notably, the government's growth estimate exceeds those of the World Bank, International Monetary Fund, and Asian Development Bank. Nepal's construction and manufacturing sectors are experiencing a downturn in the current fiscal year, as per the annual national accounts estimates for the fiscal year 2023/24 released by the National Statistics Office. The decline in production and a recession in the construction sector are key contributors to this trend.

According to NSO data, both the manufacturing and construction sectors are forecasted to undergo negative growth this fiscal year. The manufacturing sector is expected to see a negative growth of 1.60%, while the construction sector is projected to contract by 2.07%. Despite challenges in the real estate domain, the NSO anticipates a modest growth rate of 2.98%. On the brighter side, the accommodation and food services (tourism) sector is poised for significant growth at 21.84%, followed by electricity (17.44%) and the transport sector (11.89%). In terms of major contributors to the economy, the agricultural sector, which constitutes about a quarter of the GDP, is expected to grow by 3.05%. Meanwhile, the wholesale and retail trade sector, the second-largest contributor, is forecasted to see limited growth at 0.16%.