India to target children for COVID-19 vaccine from Oct: sources

Nepal’s economy is anticipated to grow by 4.1% (at market prices) in fiscal year (FY) 2022, up from an estimated growth of 2.3% in FY2021, says the latest Asian Development Outlook (ADO) 2021 Update, a flagship publication of the Asian Development Bank (ADB).

“Growth will largely be supported by the ongoing vaccination campaign against COVID-19 as the national immunization plan remains key to Nepal’s economic recovery,” said ADB Country Director for Nepal Arnaud Cauchois. “Downside risks include the uncertain trajectory of COVID-19, a possible surge in COVID-19 cases, and subsequent strict containment measures, which could reverse the gradual economic recovery in FY2021.”

According to the report, growth in Nepal’s agriculture will likely be boosted by increased paddy plantation amid abundant rainfall this monsoon season. Industry output is expected to grow, thanks to a large increase in export volume and stronger domestic demand, as rollout of the national vaccination plan will reduce infection rates over time.

The government’s fiscal policy for 2022 largely focuses on strengthening the nation’s health care system. Monetary policy will remain accommodative through a dedicated refinancing facility, concessional lending for priority projects and for affected businesses.