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The National Statistics Office has predicted that the economic growth rate of the country in the first quarter of the financial year 2081/82 will be 3.4 percent. The first quarter gross domestic product (GDP) report released by the office on Tuesday has predicted an economic growth of about 3 and a half percent.
According to the report, the quarterly gross domestic product basic price is estimated to increase by 3.4 percent in the same period of the current financial year compared to the first quarter of the previous financial year 080/81.
The office stated that the positive economic growth in this quarter is due to the increase in agricultural production, the increase in electricity production and distribution, the increase in tourism arrivals and the increase in the total value added of the hotel sector.
In addition to this, the growth in the transport sector, the growth in health services, and the growth in the public administration sector means that the overall economy is moving towards positive growth. "Especially during this period, the negative impact of floods and landslides and the growth of the construction sector could not be positive, so it is estimated that the growth of the economy will remain normal," the report states.
However, compared to the fourth quarter of the financial year 2080/81, the office has made a preliminary estimate of an increase of only 0.2 percent in the first quarter of the current financial year. In the first quarter of this year, the overall gross domestic product is estimated to increase by a small number due to the negative growth in six out of the total 18 industrial sectors and the normal growth of other sectors, the office has stated. However, it is estimated that there will be significant growth in the electricity and information and communication sectors during that period.
