Kathmandu, Oct. 3 -- Nepal's economic growth is projected to accelerate to 5.1 percent in the current fiscal year from 3.9 percent in the last fiscal year, driven by anticipated high tourist arrivals and increased hydropower and paddy production, according to the World Bank's latest economic update, released on Wednesday.

The Nepal Development Update: International Migration and Well-being in Nepal, which has not updated the losses incurred by late September rain disasters, said the private sector is expected to contribute to the country's growth, as it is anticipated to benefit from the central bank's loosening of monetary policy and easing of regulatory requirements.

Nepal's economy is projected to grow by 5.5 percent in the next fisc...