Nepal's economy,which is still reeling from a decade-long civil war that came to an end in 2006,is expected to grow by 2.53 percent this year,according to a top report. According to the Central Bureau of Statistics (CBS),the current fiscal year¿s growth in GDP is much lower than the budgetary target of 5.5 percent. CBS estimates that the overall size of the economy will touch USD 15.68 billion by the end of the current fiscal year ending in mid-July. Nepal´s total GDP at market price was USD 13.22 billion last year. Among the major sectors of Nepal´s economy,the agriculture sector is estimated to grow by a minimal 1.12 percent against the initial target of 3.3 percent. Last year,the sector grew by 3 percent. Adverse weather conditions that dragged down the output of prime agriculture products like paddy and maize are the major reason behind the low performance of the agriculture sector,according to CBS. Similarly,the non-agriculture sector has been estimated to increase by 3.6 percent whereas the budgetary expectation was 6.6 percent. The industrial sector is estimated to grow by 3.88 percent. After two consecutive years of contraction,the CBS expects the manufacturing sector to expand by 2.65 percent while the construction sector is estimated to grow by 6.62 percent. The 22-party coalition led by CPN-UML has vowed to establish peace and stability in the country so as to boost economy after a decade-long Maoists-led insurgency which ended in 2006.
