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Losses in Nepal due to recent protests described as alarming

Kathmandu, Sep 15 (Prensa Latina) Economists in Nepal called the losses from the two-day violent protests in Nepal alarming, and estimated them to be almost equivalent to the country’s budget for a year and a half.

According to a report by the Himalaya Times, the experts specified in about three billion Nepalese rupees, over $ 21.200 000, the damage caused by fire and vandalism against government, private institutions and residences.

Because of this, the economist Chandra Mani Adhikari explained that economic growth in Nepal this fiscal year will be less than 1 percent.

“Nepal’s main contributors-the supermarket Bhat-Bhateni, Chaudhary Group and Ncell-have suffered serious collateral damage,” he said.

He added that these effects add to the long-term drought that Nepal has recently faced.

Also, Nepali entrepreneurs in sectors such as the hotel industry expressed their concern about the long-term impact on the domestic economy of the recent serious insecurity in the country which, according to unofficial data, It left almost 10,000 Nepalese without work overnight.

Yogendra Shakya, a renowned hotelier, said that in the short term, rapid political stability and the appointment of a new prime minister could reassure travelers by limiting the impact on tourism.

“The real challenge lies in political stability during the coming months: if old habits of agitation and electoral interruptions persist, this uncertainty could discourage future bookings and long-term confidence in the tourism sector,” he said.

abo/mem/lrd

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