Nepal's economy has plunged into recession for the first time in 60 years. The country, on Tuesday, put a forecast at its economic growth rate - this fiscal year would be only 2.16%. However, the forecast from Nepal's national statistical office is lower than the projections of the institutions such as the World Bank and the Asian Development Bank. #nepal #nepalrecession #worldnews About Channel: WION The World is One News examines global issues with in-depth analysis. We provide much more than the news of the day. Our aim is to empower people to explore their world. With our Global headquarters in New Delhi, we bring you news on the hour, by the hour. We deliver information that is not biased. We are journalists who are neutral to the core and non-partisan when it comes to world politics. People are tired of biased reportage and we stand for a globalized united world. So for us, the World is truly One. Please keep discussions on this channel clean and respectful and refrain from using racist or sexist slurs and personal insults. Subscribe to our channel at Check out our website: Connect with us on our social media handles: Facebook: Twitter: Follow us on Google News for the latest updates Zee News:- Zee Business:- DNA India:- WION: Zee News Apps: ...(read more)
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Nepal, a country nestled in the lap of the majestic Himalayas, has been hit by a severe economic recession. The country's economy has hit the lowest mark for the first time in 60 years. The ongoing pandemic, coupled with political instability, has wreaked havoc on Nepal's economy, resulting in widespread job losses, closure of businesses, and a plummeting GDP. The pandemic has hit Nepal's tourism industry particularly hard. Tourism has been a significant contributor to Nepal's economy, with trekkers and climbers flocking to the country to scale the towering peaks of the Himalayas. However, the pandemic has led to a sharp decline in tourism, resulting in a significant loss of revenue. Additionally, the country's political instability has also contributed to the economic crisis. Nepal has faced a series of political crises in recent years, with frequent changes in government and widespread corruption. This has led to a lack of confidence among investors and a general sense of uncertainty in the business sector. The International Monetary Fund (IMF) has forecasted that Nepal's economy will contract by 2.9% in the current fiscal year, with a slow recovery in 2022. The economic slowdown has had a severe impact on the country's citizens, with many struggling to make ends meet. The pandemic has exacerbated poverty levels and has pushed many households towards the brink of destitution. The Nepalese government has taken several steps to address the economic crisis, including plans to increase spending on infrastructure projects, provide financial support to struggling businesses, and expand the country's tax base. However, the pace of implementation of these measures has been slow, and many critics have urged the government to do more to address the crisis. The economic downturn has highlighted the need for Nepal to diversify its economy and reduce its reliance on tourism. Nepal has rich natural resources, including water, minerals, and fertile land, which could be harnessed to support a diverse economy. Additionally, there is potential in developing the country's manufacturing and services sectors, which could generate sustained economic growth. In conclusion, Nepal's economic recession is a significant challenge, and the government must take urgent measures to rebuild the economy. The pandemic has highlighted the need for resilience and diversification in the country's economy, and a long-term strategy is crucial to support Nepal's economic recovery. The international community must also step up its support for Nepal, providing resources and expertise to help the country navigate these difficult times. https://inflationprotection.org/nepals-economy-experiences-a-significant-downturn-hitting-its-lowest-point-in-60-years/?feed_id=95292&_unique_id=6457fbf7a2e90 #Inflation #Retirement #GoldIRA #Wealth #Investing #economiccrisisinnepal #economy #importnepal #indianepal #nepal #nepaleconomiccrisis #nepaleconomoy #nepaleconomy #nepaleconomy2022 #nepaleconomycrisis #nepaleconomyincrisis #nepaleconomynews #nepaleconomynewsupdate #nepaleconomyproblem #nepalnews #nepalrastrabank #nepalvssrilankaeconomy #nepali #nepalieconomy #nepalipodcast #nepalipodcasts #pakistanvsnepaleconomy #srilankaeconomy #srilankaneconomycrisis #RecessionNews #economiccrisisinnepal #economy #importnepal #indianepal #nepal #nepaleconomiccrisis #nepaleconomoy #nepaleconomy #nepaleconomy2022 #nepaleconomycrisis #nepaleconomyincrisis #nepaleconomynews #nepaleconomynewsupdate #nepaleconomyproblem #nepalnews #nepalrastrabank #nepalvssrilankaeconomy #nepali #nepalieconomy #nepalipodcast #nepalipodcasts #pakistanvsnepaleconomy #srilankaeconomy #srilankaneconomycrisis
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