Site icon Fiscal Nepal

Economy on track, improvement in industrial production and job creation

KATHMANDU: A Nepal Rastra Bank (NRB) study has shown that Nepal’s economy which was shattered by the COVID-19 pandemic is gradually coming on track with those industries shut during the lockdown resuming operation, boost in industrial production and job creation.

As per the report, 54 percent of the industries/businesses that were shut during the pandemic and the lockdown period has come into operation so far.

The survey report showed that on an average, 61.03 percent of the industries/businesses could not operate after the closure and only 4.1 percent of the industries/businesses were fully operational back then.

Similarly, the operation of industries related to agriculture, forestry, and fisheries has increased from 58.08 percent in July last year to 71.97 percent in November.

According to the central bank, 61.93 percent of the manufacturing industries have come into operation. In the electricity, gas and water industry front, 92.50 percent of the business has come into operation.

The construction sector accounted for 54.83 percent, wholesale and retail trade 57.22 percent, hotels and restaurants 18.11 percent, and transport and storage 55 percent.

Exit mobile version