Economic Development

Economic development has been defined in various ways. Generally, it refers to the economic well being of a nation. Economic development is the process whereby the real per capita income of a country increases over a long period of time subject to stipulations that the number of people below an absolute poverty line does not increase, and that the distribution of income does not become more unequal. In fact, economic development means a sustainable increase in the standard of living. Therefore, it refers not only to increase in per capita income but also the alleviation of poverty and reducing the gap between the rich and the poor. Moreover, it also incorporates other social issues such as, education, health, freedom, rights as well as environmental protection.

Comments

The Crossroads of the Nepalese Economy in 2026 AD

Forecast: Nepal's economic outlook for 2026 presents a mix of forecasts from major international institutions like the International Monetary Fund (IMF), World Bank, and Asian Development Bank (ADB). These forecasts reflect a blend of optimism regarding structural resilience and concerns over ongoing political and social instability. The ADB projected a 5.1% GDP growth for 2026 in April 2025, driven by the revival of tourism and improved agricultural productivity. However, the World Bank later forecasted a 2.1% GDP growth for 2026 in November 2025, indicating a significant slowdown due to political unrest and weakened investor confidence. The IMF projected moderate GDP growth continuing the recovery around 4.3 to 4.5%. The economic recovery is stabilizing but faces challenges due to a complex domestic environment and global uncertainty. Underlying Reasons: The divergent predictions stem from various factors. The unexpected youth movement, known as the "Gen Z uprising,...

War Economy and Agriculture

Urea Fact Sheet Global urea production reached more than 200 million metric tons in 2025. The market is rapidly expanding due to agricultural demand, with production capacity projected to reach around 300 million metric tons by 2030. Urea demand is heavily driven by agriculture, with Asia-Pacific accounting for roughly 61% of market share, North America at 10%, Europe at about 7%, and the rest in other regions. The market is projected to grow at a Compound Annual Growth Rate (CAGR) of 3.05%-3.9% through 2029-2034, driven by food demand for a growing global population. Key production centers include China, India, and the Middle East (Qatar, Oman, Saudi Arabia), with significant expansions planned to meet growing demand. More than 80% of urea is used in agriculture, and the rest in the industrial sector. Global Production Giants Saudi Basic Industries Corporation (SABIC), a Saudi Arabian company, is a global chemical and fertilizer powerhouse. Qatar Fertiliser Company (QAFC) is o...

Why does the price of gold decrease during global unrest?

One of my friends asked me why the gold price is dropping when there is a war in the Gulf. Let me clarify this. When there is a war in the Middle East, w ait, let me use the correct term for "gulf." Actually, the Gulf is not in the Middle East for Nepal; it is in the Middle West as the Gulf lies to the west of Nepal. it causes the price of gold to fall, ultimately decreasing around the globe and in Nepal as well. The extraction of crude oil decreases, leading to a shortage in the supply which increases the price of crude oil. This, in turn, raises the price of transportation as fuel costs cover the operation of almost all means of transportation. Additionally, the majority of industries use fossil fuels for production, and backup power generators also rely on fossil fuels, causing an increase in the price of goods and services, leading to supply-side inflation. To control inflation, the central bank of most countries increases interest rates, implementing a tight monetary po...

Search This Blog