The IMF Country Reports Series covers economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with officials of the country, is published at the option of the member.
This Background Paper on Nepal highlights that during 1993/94, overall economic performance was generally favorable. Real GDP grew by nearly 7 percent, largely owing to the good monsoon that helped boost agricultural output significantly above the low levels recorded in the previous year. Inflation remained stable at about 9 percent, closely following price developments in India. Reflecting the substantial improvement in government revenue collections, net domestic financing of the budget deficit was contained at 1 percent of GDP.