KATHMANDU: Hit by lower government spending and fall in production of key agricultural products, Nepal's economic growth rate is expected to slacken to 3.56 per cent in 2012-13 fiscal as against 4.48 per cent in previous year.
The country's Central Bureau of Statistics (CBS) in its preliminary projection on Friday said Nepal's economic growth rate is seen at 3.56 per cent, the lowest since 2006-07 fiscal year when the economy expanded by 2.75 per cent.
The gross domestic product figures are on basic prices. "The economic growth rate is expected to slacken this fiscal year because of shrinkage in government spending and fall in production of key agricultural products like paddy and maize," CBS Deputy Director General Suman Raj Aryal said during a press meet in Kathmandu.
"These reasons, coupled with unsatisfactory performance of other sectors, will hit this fiscal's GDP growth rate." Among others, manufacturing sector is expected to grow by nominal 1.85 per cent this fiscal year as against 3. 63 per cent last fiscal year.
Real estate, renting and business activities sector is expected to expand by 1.64 per cent compared with 2.97 per cent last fiscal year. The current fiscal year will witness the lowest economic growth in the last six years due to to poor agricultural output and industrial growth and the delayed budget.
Owing to the skyrocketing consumer prices, per capita income of Nepalese people is also expected to decline in real terms this fiscal year.
Per capita GDP of Nepali citizens is expected to hover at Rs 62,510 (USD 717) this fiscal year, up from Rs 57,201 (USD 706) last fiscal year, according to preliminary figures released by the CBS yesterday.
The 9.28 per cent hike in per capita income may bring some cheer but considering average inflation, which stood at 10.63 per cent in the first seven months of the current fiscal year to February 11, the real per capital income of the people is expected to decline by around 1.35 percentage points this year, according to the data.
Per capita income of Nepalis grew by 10.22 per cent last fiscal year. Central Bureau of Statistics (CBS) was established in 1959 under Statistics Act, 2015 BS as the central agency for the collection, consolidation, processing, analysis, publication and dissemination of statistics.
It is under the National Planning Commission Secretariat (NPCS) of Nepal and serves as a national statistical organisation of the government.
indiatimes.com
The country's Central Bureau of Statistics (CBS) in its preliminary projection on Friday said Nepal's economic growth rate is seen at 3.56 per cent, the lowest since 2006-07 fiscal year when the economy expanded by 2.75 per cent.
The gross domestic product figures are on basic prices. "The economic growth rate is expected to slacken this fiscal year because of shrinkage in government spending and fall in production of key agricultural products like paddy and maize," CBS Deputy Director General Suman Raj Aryal said during a press meet in Kathmandu.
"These reasons, coupled with unsatisfactory performance of other sectors, will hit this fiscal's GDP growth rate." Among others, manufacturing sector is expected to grow by nominal 1.85 per cent this fiscal year as against 3. 63 per cent last fiscal year.
Real estate, renting and business activities sector is expected to expand by 1.64 per cent compared with 2.97 per cent last fiscal year. The current fiscal year will witness the lowest economic growth in the last six years due to to poor agricultural output and industrial growth and the delayed budget.
Owing to the skyrocketing consumer prices, per capita income of Nepalese people is also expected to decline in real terms this fiscal year.
Per capita GDP of Nepali citizens is expected to hover at Rs 62,510 (USD 717) this fiscal year, up from Rs 57,201 (USD 706) last fiscal year, according to preliminary figures released by the CBS yesterday.
The 9.28 per cent hike in per capita income may bring some cheer but considering average inflation, which stood at 10.63 per cent in the first seven months of the current fiscal year to February 11, the real per capital income of the people is expected to decline by around 1.35 percentage points this year, according to the data.
Per capita income of Nepalis grew by 10.22 per cent last fiscal year. Central Bureau of Statistics (CBS) was established in 1959 under Statistics Act, 2015 BS as the central agency for the collection, consolidation, processing, analysis, publication and dissemination of statistics.
It is under the National Planning Commission Secretariat (NPCS) of Nepal and serves as a national statistical organisation of the government.
indiatimes.com
No comments:
Post a Comment