● In 2016–2017, growth picked up significantly to 7.5%, driven by a good harvest, significant foreign aid, normalization of trade activities, and improved electricity supply management. In 2017, Nepal was ranked the third fastest growing economy in the world in terms of GDP growth. 4 ● Moving forward, growth is likely to normalize to pre-earthquake levels at approximately 5.3%, sustained by increased spending in infrastructure reconstruction and development. However, this could be offset by a slowdown in remittance inflow due to a decline in the number of outgoing migrants. GDP (US$ billion) and GDP Growth (%), at Constant Prices, Nepal, 2013/14–2021/22F Note: F indicates forecasts Source: Nepal's Macro Environment and Key Industry Prospects, 2017–2022 Nepal is considered one of the least developed countries in the world with low per capita income. Its low economic growth rates compared to other countries in the region is a cause for concern as well. *Based on Atlas Method; Source: Basic Statistics 2018, Asian Development Bank (ADB) 4 Source: World Development Indicators, World Bank World Economic Forum 7