KATHMANDU, April 25: The Gross Domestic Products (GDP) growth rate in the fiscal year 2073/074 is likely to be 6.94 per cent, the Central Bureau of Statistics (CBS) forecasts.
The GDP growth was estimated 0.01 per cent in the review period last year.
At a press meet on Tuesday, the CBS said that growth in GDP expansion was encouraging based on the economic data of the first six to nine months and speculation of remaining period.
According to the CBS, economy witnessed positive growth due to favorable climatic condition, progress in construction works and an end to the energy crisis.
On the occasion, Secretary of the National Planning Commission Secretariat Chandra Kumar Ghimire said that the current fiscal year remained highly fruitful in terms of economic development. “Energy crisis has ended and the frequency of strikes have been reduced resulting in positive impact in economy,” Ghimire added.
He said that agriculture sector has witnessed the growth rate of 5.29 per cent while non-agriculture sector is likely to expand by 7.74 per cent.
Similarly, the GDP of the country is nearly Rs 2294 billion based on current prices while the GDP is Rs 2599 billion plus based on consumer spending. RSS