GDP shows negative growth rate

December 11, 2003
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Nepal’s Gross Domestic Products (GDP) has reached the lowest ebb in the past two decades portraying a negative growth rate of minus 0.61 per cent, according to the Central Bureau of Statistics.

The negative growth has been attributed to the slackness that has come about in the hotel and tourism business though the performance of the agricultural sector has been fairly satisfactory.

The GDP growth rate for the agriculture and the forest sector stands at 2.23 for the year 2058/059 compared to that of the previous year. But the growth rate of the service sector has plummeted to an all time low, the reasons for which are the perpetration of violence in different parts of the country by the Maoist rebels.