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<p>Stating that the economy was heading toward recovery until nine months of the current fiscal year, the central bank said that the second wave of Covid-19 and subsequent prohbitory measures introduced in many parts of the country pose a challenge even to achieve the economic growth rate of 4 percent. </p>
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<p>Stating that the economy was heading toward recovery until nine months of the current fiscal year, the central bank said that the second wave of Covid-19 and subsequent prohbitory measures introduced in many parts of the country pose a challenge even to achieve the economic growth rate of 4 percent. </p>
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<p>Releasing its third quarterly report of the monetary policy for the current fiscal year on Wednesday, the central bank ruled out the possibility of achieving the growth of 4.01 percent as estimated by the CBS in April. </p>
<p>Stating that the economy was heading toward recovery until nine months of the current fiscal year, the central bank said that the second wave of Covid-19 and subsequent prohbitory measures introduced in many parts of the country pose a challenge even to achieve the economic growth rate of 4 percent. </p>
<p>“Economic activities were gaining momentum after the lockdown was lifted following the decline in first wave of Covid-19 infection. Against this backdrop, the CBS projects the economy to grow by 4 percent,” read the third quarterly report of the monetary policy. “However, it is difficult to achieve the estimated growth as the second wave is hitting the economy before the revival,” it added. </p>
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<p>Releasing its third quarterly report of the monetary policy for the current fiscal year on Wednesday, the central bank ruled out the possibility of achieving the growth of 4.01 percent as estimated by the CBS in April. </p>
<p>Stating that the economy was heading toward recovery until nine months of the current fiscal year, the central bank said that the second wave of Covid-19 and subsequent prohbitory measures introduced in many parts of the country pose a challenge even to achieve the economic growth rate of 4 percent. </p>
<p>“Economic activities were gaining momentum after the lockdown was lifted following the decline in first wave of Covid-19 infection. Against this backdrop, the CBS projects the economy to grow by 4 percent,” read the third quarterly report of the monetary policy. “However, it is difficult to achieve the estimated growth as the second wave is hitting the economy before the revival,” it added. </p>
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<p>Though the CBS officials had said that their projection was based on an assumption that all economic activities will operate in normal condition after two weeks, the ongoing lockdown, imposed through prohibitory orders from April 29, is already extended till May 27 in the Kathmandu Valley. </p>
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May 19: Nepal Rastra Bank (NRB) has said that 4.01 percent of economic growth in the curent fiscal year (FY20120/21) as projected by the Central Bureau of Statistics (CBS) is now difficult to achieve.
Releasing its third quarterly report of the monetary policy for the current fiscal year on Wednesday, the central bank ruled out the possibility of achieving the growth of 4.01 percent as estimated by the CBS in April.
Stating that the economy was heading toward recovery until nine months of the current fiscal year, the central bank said that the second wave of Covid-19 and subsequent prohbitory measures introduced in many parts of the country pose a challenge even to achieve the economic growth rate of 4 percent.
“Economic activities were gaining momentum after the lockdown was lifted following the decline in first wave of Covid-19 infection. Against this backdrop, the CBS projects the economy to grow by 4 percent,” read the third quarterly report of the monetary policy. “However, it is difficult to achieve the estimated growth as the second wave is hitting the economy before the revival,” it added.
Earlier on April 30, the CBS had made a preliminary estimate of 4.01 percent of economic growth in the current fiscal year from a contraction of 2.1 percent in the previous fiscal year. The estimate, based on available information and figures of seven to nine months of the current fiscal year, did not take into consideration the impacts of prohibitory measures introduced by local administrations in many parts of the country to control the spread of the second wave of coronavirus.
Though the CBS officials had said that their projection was based on an assumption that all economic activities will operate in normal condition after two weeks, the ongoing lockdown, imposed through prohibitory orders from April 29, is already extended till May 27 in the Kathmandu Valley.
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<p>Stating that the economy was heading toward recovery until nine months of the current fiscal year, the central bank said that the second wave of Covid-19 and subsequent prohbitory measures introduced in many parts of the country pose a challenge even to achieve the economic growth rate of 4 percent. </p>
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<p>Stating that the economy was heading toward recovery until nine months of the current fiscal year, the central bank said that the second wave of Covid-19 and subsequent prohbitory measures introduced in many parts of the country pose a challenge even to achieve the economic growth rate of 4 percent. </p>
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<p>Stating that the economy was heading toward recovery until nine months of the current fiscal year, the central bank said that the second wave of Covid-19 and subsequent prohbitory measures introduced in many parts of the country pose a challenge even to achieve the economic growth rate of 4 percent. </p>
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