Nepal’s growth outlook weakened by flood damage: World Bank-Xinhua
KATHMANDU, Oct. 6 (Xinhua) -- The World Bank has projected Nepal's economic growth to slow to 3.7 percent in the current fiscal year 2026-27, which began in mid-July, from its earlier projection of 4.2 percent, reflecting disruptions to industry and services. Releasing its flagship publication on Nepal, Nepal Development Update: Building Back Differently for the Future, on Tuesday, the global development institution said the Aug. 26 floods in Nepal are expected to have a material negative impact on the country's economic prospects in the short term. A total of 1,455 people have been confirmed dead and 5,285 remain missing to date following the disaster, which devastated communities and infrastructure along the Bhotekoshi and Trishuli river corridors, according to the National Disaster ...