Economy grew by an estimated 4.61% in 2024/25: NRB

KATHMANDU: Economy grew by an estimated 4.61% in fiscal year 2024/25, up from 3.67 percent a year earlier, according to the Macroeconomic Situation Report released by the Nepal Rastra Bank (NRB) on Sunday.

The central bank said the National Statistics Office (NSO) estimates that agriculture, industry and services expanded by 3.28%, 4.53% and 4.21%, respectively. Their contribution to gross domestic product (GDP) stood at 25.16%, 12.83% and 62.01%, respectively.

Gross domestic saving accounted for 6.55% of GDP, while the ratios of gross fixed capital formation and gross national saving to GDP stood at 24.07%and 36.24%, respectively.

The World Bank and the Asian Development Bank had made growth projections of 4.5% and 4.4% for Nepal in 2024/25, respectively.

Inflation Moderates
Annual average inflation slowed to 4.06% in 2024/25 from 5.44% in the previous year.

Food and beverage inflation averaged 4.69%, while non-food and services inflation stood at 3.71%. On a year-on-year basis, consumer price inflation eased to 2.20% in mid-July from 3.57% a year earlier.

Among provinces, Koshi (5.46%) and Sudurpashchim (5.02%) recorded the highest annual average inflation, while Karnali (3.31%) and Gandaki (3.32%) saw the lowest.