Take the pledge to vote

For a better tommorow#AajSawaroApnaKal
  • I agree to receive emails from News18

  • I promise to vote in this year's elections no matter what the odds are.
  • Please check above checkbox.

    SUBMIT

Thank you for
taking the pledge

Vote responsibly as each vote counts
and makes a diffrence

Disclaimer:

Issued in public interest by HDFC Life. HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited) (“HDFC Life”). CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101 . The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited. ARN EU/04/19/13618
LIVE TV DownloadNews18 App
News18 English
News18 » Business
2-min read

Nepal's Economy Rebounding: International Monetary Fund

Nepal's economy is rebounding after a slowdown caused due to 2015 earthquakes and trade disruptions at the southern border, the International Monetary Fund has said.

PTI

Updated:March 28, 2017, 12:11 PM IST
facebookTwitterskypewhatsapp
Nepal's Economy Rebounding: International Monetary Fund
(Representative Image: Reuters)
Loading...

Washington: Nepal's economy is rebounding after a slowdown caused due to 2015 earthquakes and trade disruptions at the southern border, the International Monetary Fund has said.

"Growth is projected to reach 5.5 per cent in 2016-17 and inflation is expected to undershoot the central bank's mid-2017 target of 7.5 per cent," the International Monetary Fund (IMF) said on Monday in its latest annual report on Nepal.

"Nepal's economy is rebounding following a slowdown caused by the 2015 earthquakes and trade disruptions. The normalisation of economic activity is supported by a good monsoon, accommodative monetary policy, and rising government spending," it said.

The report said inflation had been decelerating due to base effects related to last year's trade disruption but is expected to remain above India's inflation.

"More recently, the authorities have also been able to advance reforms in a number of areas," it said.

The report said it expected growth to reach 5.5 per cent in 2016-17, supported by a good monsoon, accommodative monetary policy, and rising government spending.

While the government's vision is to graduate from least-developed country status by 2022 and achieve middle income country status by 2030, the frequent changes in government have held back progress in addressing infrastructure gaps, weak institutional capacity, and the difficult business climate, it said.

Nepal is now one of the largest recipients of remittances in the world, it said, adding that at 30 per cent of GDP in Fiscal Year 2015-16, remittances helped to reduce poverty, support the balance of payments, and boost the fiscal accounts through higher import-related revenues.

The top financial institution also said political uncertainty was likely to persist with several elections to be held in the coming months.

"The new government has increased recurrent spending to facilitate post-earthquake reconstruction but inefficiencies in capital budget management and implementation are holding back a scaling up of public investment to support medium-term growth," the report said.

The normalisation of economic activity, a favourable monsoon season, improved power supply, accommodative monetary policy and rising government spending in part due to the disbursement of housing grants to earthquake-affected households and a hike in government wages and pensions are spurring a cyclical rebound, as evidenced in recent months by rising imports and tax revenues," it said.

Get the best of News18 delivered to your inbox - subscribe to News18 Daybreak. Follow News18.com on Twitter, Instagram, Facebook, TikTok and on YouTube, and stay in the know with what's happening in the world around you – in real time.

Subscribe to Moneycontrol Pro and gain access to curated markets data, trading recommendations, equity analysis, investment ideas, insights from market gurus and much more. Get Moneycontrol PRO for 1 year at price of 3 months. Use code FREEDOM.

| Edited by: Huma Tabassum
Read full article
Loading...
Next Story
Next Story

Also Watch

facebookTwitterskypewhatsapp
Most Active
Company Price Change %Gain
Yes Bank 59.25 5.24
Indiabulls Hsg 467.85 3.84
Reliance 1,275.85 2.33
HDFC Bank 2,162.70 -0.52
ICICI Bank 395.40 -0.93
Company Price Change %Gain
Yes Bank 59.25 5.24
ICICI Bank 395.75 -0.85
Indiabulls Hsg 467.90 4.00
Bajaj Finance 3,175.35 1.85
Reliance 1,275.95 2.36
Top Gainers
Company Price Change %Gain
Zee Entertain 351.15 6.75
Vedanta 137.40 6.47
UPL 547.25 5.64
Yes Bank 59.25 5.24
BPCL 329.35 5.22
Company Price Change %Gain
Vedanta 137.50 6.55
Yes Bank 59.25 5.24
ONGC 122.30 4.66
M&M 533.10 4.09
Coal India 188.05 4.07
Top Losers
Company Price Change %Gain
IndusInd Bank 1,310.50 -1.88
ITC 236.10 -1.65
ICICI Bank 395.40 -0.93
Eicher Motors 15,383.45 -0.90
HUL 1,860.00 -0.65
Company Price Change %Gain
IndusInd Bank 1,310.35 -1.90
ITC 236.00 -1.71
ICICI Bank 395.75 -0.85
Power Grid Corp 201.40 -0.69
HUL 1,859.35 -0.69

Live TV

Loading...
Countdown To Elections Results
To Assembly Elections 2018 Results