First Business News Portal in English from Nepal
KATHMANDU: Nepal’s economic growth rate recorded negative growth of 1.99 percent in the last fiscal year, as per Central Bureau of Statistics (CBS).
Releasing a report today, the bureau stated that economy was severely affected by the COVID-19 pandemic dragging the economy to negative growth in 2019-20.
Similarly, CBS said that the target growth of 2.7 percent for 2020-21 is unlikely as the economy is still under the pressure resulted by the pandemic. As per CBS, the country recorded negative growth of 4.6 percent in the first quarter of the ongoing fiscal year.
Meanwhile, the CBS has also changed the base year of calculation of national accounts statistics from 2000/01 to 2010/11.
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