WB Brings Down Growth Forecasts

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Jan. 23, 2011, 5:45 p.m. Published in Magazine Issue: Vol. :04 No.-15 Jan. 21-2011 (Magh 07,2067)
Even as the government has predicted there would be 4.5 percent growth rate in the country in the current fiscal year, the World Bank has forecast that the GDP growth rate will hover around 3.7 percent. The WB prediction for 2012, too, is not exciting for the government. It predicts that the growth will marginally rise to reach 4 percent in the next year. The WB outlook blames the continuous political instability as a reason for grim forecast. The WB report also states that the contribution of export to GDP will continue to slide in these two years. From 2010 to 2011, the contribution of export to GDP will come down by 1.9 percent and its contribution from 2011 to 2012 will come down by 1.1 percent, it states. In 2010, the contribution of exports to GDP stood at 12.9 percent, which will come down to 11 percent this year. That will further slide to 9.9 percent in 2012.

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