Nepal expects 5.8% growth as COVID-19 cases fall - minister

29/5/2022 5:43:00 PM

Nepal expects 5.8% growth as COVID-19 cases fall - minister

Nepal expects 5.8% growth as COVID-19 cases fall - minister

KATHMANDU : Nepal's economy is expected to expand by 5.8 per cent in the current financial year ending mid-July, helped by a pick-up in economic activity following a fall in COVID-19 cases, the finance minister said on Sunday.The growth estimates were higher than 4.3 per cent year-on-year growth in the pr

LinkedIn KATHMANDU : Nepal's economy is expected to expand by 5.LinkedIn SHANGHAI: Shanghai announced on Sunday (May 29) further steps towards returning to more normal life and lifting a two-month COVID-19 lockdown this week, while Beijing reopened parts of its public transport, some malls, gyms and other venues as infections stabilised.Copy to clipboard https://str.curtailed movement even as case numbers decline.

8 per cent in the current financial year ending mid-July, helped by a pick-up in economic activity following a fall in COVID-19 cases, the finance minister said on Sunday.The growth estimates were higher than 4.The painful coronavirus curbs in major Chinese cities run counter to trends seen in the rest of the world, which has largely moved towards co-existing with the virus even as infections spread.3 per cent year-on-year growth in the previous year, but lower than earlier projection of 7 per cent growth for the current fiscal year, as the rising energy and food prices have hit consumer spending and firms' investments.Mr Lim is among close to 30,000 people who have received help from the Courage Fund, which disbursed about $9.Nepal has ended almost all pandemic-related restrictions, imposed to curb the spread of the novel coronavirus and took several steps to revive the economy hit by the pandemic."The current epidemic situation in the city continues to stabilise and improve," Yin said, adding Shanghai's strategy was now"pivoting towards normalised prevention and control"."As the impact of COVID-19 is minimal, the economic and social life is becoming normal," Finance Minister Janardan Sharma said, presenting the annual budget in the parliament for the new financial year beginning mid-July.Videos on social media showed Friday night revellers including many foreigners drinking and dancing in the street in a central area of the city, interrupted by police telling them to go home.

He said economic indicators except those relating to external sector, were"satisfactory".Bus services within the Pudong New Area, home to Shanghai's largest airport and the main financial district, will fully resume by Monday, officials said.Mr Lim recounted his time cleaning the dormitory toilets in 2020, saying:"When I saw many workers infected, I was a little scared.Ishwari Prasad Bhandari, a director at the government’s Central Bureau of Statistics (CIS) said the good economic growth was due to a rise in hydroelectric power generation, growth in construction as well as the wholesale and retail trade.Nepal has seen a surge in food and energy prices as annual retail inflation accelerated to a five-year high of 7.Authorities have been slowly relaxing curbs, with a focus on resuming manufacturing.3 per cent, amid the risk of social unrest as imports of goods like fuel, coal and edible oil become costlier.He was more afraid of passing the infection to his mother, who is in her 80s and lives with him in a three-room flat in Ang Mo Kio.Sharma said the government would soon reduce fuel prices which were increased by up to 12.The authorities approved 240 financial institutions in the city for reopening from Wednesday, state-run Shanghai Securities News reported on Sunday, adding to a list of 864 firms released earlier this month.ECONOMIC IMPACT zero-COVID has devastated the world's second-largest economy and rattled global supply chains, alarming investors worried about the lack of a roadmap for exiting from what has been a signature policy of President Xi Jinping.

5 per cent last week saying global prices had spiked in the wake of Russia’s invasion on Ukraine but gave no details.The government has banned luxury goods imports until mid-July amid dwindling forex reserves, which fell 18.The newspaper said on Saturday that the more than 10,000 bankers and traders who have been living and working in their offices since the start of lockdown were gradually returning home." He applied for a Covid-19 relief scheme under the Courage Fund after his company told him about it.2 per cent to $9.61 billion on mid-April from mid-July, according to the central Nepal Rastra Bank (NRB) data.Related: China censors zero-COVID debate after WHO criticises policy GYMS AND LIBRARIES In the capital Beijing, libraries, museums, theatres and gyms were allowed to reopen on Sunday, with limits on numbers of people, in districts that have seen no community COVID-19 cases for seven consecutive days.Officials said the pandemic would not have much impact on economic activities by mid-July when the current financial year ends."I thought, after getting Covid-19, that it is important to protect myself if anything happens, like a fall," he said.The conflict between vanquishing the spread of COVID-19 and supporting the economy comes amid a politically sensitive year, with Xi expected to secure an unprecedented third leadership term at a congress of the ruling Communist Party in the autumn.

Source: Reuters.Restaurant dining remains banned city-wide.

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