Welcome to you all. We are proud to update Nepal Economic Association’s website in the year 2020. Nepal Economic Association (NEA) is the only umbrella institution of the professional
economists throughout the country. The association is headquartered at the, Central Department of Economics, Tribhuvan University, Kirtipur and currently is run through our city office in Sanepa.
The biggest challenge global economy currently facing is much more severe than 1930s depression.Nepal’s GDP is estimated to 1.9 percent by the end of 2020. Based on the review of Nepal’s major socio-economic indicators, it can safely be said that the probability of achieving V-shape recovery is a distant dream. Even world’s largest economy has been facing unusual economic pain. USA’s GDP fell at 32.9 percent annualized rate. Unemployment has gone up to 10.4 percent. China’s economy contracted 6.8 percent. Almost 460000 firms have already been closed. In India the latest data shows, least conservative estimates during the beginning of FY 2020-21 project GDP figure a 16.5 percent contraction. It is said, this was worst since India started reporting quarterly data in 1996. Economic slowdown the world over especially in large economies has disrupted global supply chain making production of good or service and its supply, distribution, and post-sales activities quite uncertain.
NEA’s role has been much more challenging after the advent of Corona pandemic. As the nature and trend of current pandemic is so uncertain and its impact changes so frequently, we feel responsible to conduct virtual meeting at a frequent interval by providing technical backstopping to concerned stakeholders.
The Association is a non-political and not for profit institution. Our functions largely focus on organizing brain-storming seminars, workshops, help government to provide NEA’s official opinion on major policy issues and disseminate our recommendations to the broad-based audience. Our work has been reflected in government’s key policy decisions. We are thankful to the Ministry of Finance and Nepal Rastra Bank for their generous support to continue NEA’s professional activities. We are happy NEA has now the ex-officio representation at the Revenue Board of the Ministry of Finance, and at the economic diplomacy committee headed by the foreign minister at the Ministry of Foreign Affairs.
To broaden our network and become more visible in the entire country, we plan to gradually open up our branch offices in Nepal’s all the seven states. As the association will coordinate with the local governments and respective states to find out their priority, we trust all will benefit through our support in policy making, estimating the impact and charting out the future roadmap.