Kathmandu, Sept. 15 -- Nepal's economy is anticipated to grow by 1.5 percent in the current fiscal year 2020-21 from the preliminary estimate of 2.3 percent in the last fiscal year, says the latest Asian Development Outlook 2020 Update.

The growth estimate of the Asian Development Bank is way below the government's estimate of 7 percent.

Nepal saw a massive growth slump in the third quarter of the last fiscal year 2019-20-to 0.8 percent-due largely to negative growths in at least five sectors, according to the recent estimates of the Central Bureau of Statistics.

Economists say less than one percent growth observed in the third quarter in the last fiscal year could mean a further devastating impact on the economy in the fourth quarter ...