Kathmandu. The Asian Development Bank (ADB) estimates that Nepal's economic growth will be only 1.5 percent a year.

The government had projected an average economic growth rate of 7 percent this year.

The ADB had projected economic growth of 6.4 percent in its first projection in April 2021. However, the global outbreak of the corona virus has reduced all economic activity.

The ADB had projected economic growth of 3.1 percent in June 2021. However, in its third projection, the Asian Development Bank (ADB) has projected economic growth of only 1.5 percent this year.

The Bank has projected economic growth for Asian countries through its Economic Outlook. Meanwhile, the World Bank has recently projected 2.1 percent economic growth.

In the previous fiscal year 2076/77, the government had projected economic growth of 2.27 percent. Even ADB's projection seems to be somewhat similar.

According to the ADB, economic growth will be only 2.3 percent in 2020. The government has not yet released its final report this year.

The ADB has projected the Maldives to grow at 20.5 percent in 2020.

In 2021, countries will gradually recover from this injury. The ADB estimates that the Maldives will achieve the highest economic growth rate of 10.5 percent in the current fiscal year. India, which has shrunk by 9 percent, will also rise in the current fiscal year.

ADB estimates India's economic growth at 8 percent. In terms of economic growth, Nepal and Afghanistan will be the weakest of the South Asian countries this year.

South Asian Economic Growth Estimates (Percentage)

Country 2019, 2020, 2021

Afghanistan 3-5 1.5

Bangladesh 8.2 5.2 6.8

Bhutan 4.4 2.4 1.7

India 4.2-98

Maldives 5.9-20.5 10.5

Nepal 72 2.3 1.5

Pakistan 1.9-0.4 2

Sri Lanka 2.3-5.5 4.1

Overall South Asia 4.3-6.8 7.1

The global impact of Covid 19 continues. However, countries are gradually moving towards economic recovery. Despite this, by 2020, the economy will be weak in most countries. However, in 2021, the ADB estimates that the economy in Asia as a whole will begin to shrink.

According to the Asian Development Bank, the Asian region's economic growth rate will fall below zero in 2020 to -0.7 percent. In 2019, the overall economic growth rate of Asian countries was 5.1 percent.

However, in 2021, this rate will rise significantly. According to the World Bank's projection, the growth rate will be 6.8 percent this year. In this, especially developed and large economies will play an important role in boosting the economy.

This year, Singapore's GDP will grow by 4.5 percent. India's GDP will grow by 8 percent, China's by 7.7 percent and South Korea's by 3.3 percent. Even Hong Kong's growth rate will be 5.1 percent.