•      Thu Feb 29 2024

Economic growth to remain 4 to 5 percent this year: NRB

Nepal Rastra Bank (file photo)

Kathmandu, Dec 6:  The Nepal Rastra Bank, central bank of Nepal, has estimated that the economic growth will remain at 4 to 5 percent in the current financial year 2023/24. However, the government annual budget has predicted a growth rate of 6 percentage point.

The NRB officials submitted a report to this regard in the Finance Committee under the House of Representatives on Wednesday.

According to NRB, the tourist arrivals and remittance flows have increased significantly, interest rates are falling and loan disbursements have started to increase.

Similarly, consumer price inflation is expected to improve as price inflation is decreasing in India and wholesale price inflation has also improved in Nepal.

Likewise, the price increase in Ashoj 2080 BS was 7.5 percent, which is 1 percentage point less than Ashoj 2079 BS. But it is slightly more than the target of 6.5 percent taken by the monetary policy. In Ashoj 2080 BS, the price increase of food and beverages was 8.4 percent and the price increase of non-food and service group was 6.8 percent.