By Rajesh PandeyThe next generation of Nepalis will be poorer than their parents, the country’s new prime minister said on Monday, as he unveiled a new poverty reduction plan aimed at reducing poverty and boosting development.
A new poverty target for Nepal has not been set yet, but it will be in line with a UN report last year that warned the country needed to raise its per capita income to the global median.
The new plan aims to lift millions of people out of poverty, which has been steadily increasing in recent years.
It comes as the Nepalese government and the UN continue to hammer out an ambitious development agenda that could boost Nepal’s economic growth to about 3.8 percent in 2020 from about 2.4 percent in 2021.
The country’s economy grew at a 6.2 percent annual rate in the first half of this year.
The government said its economic growth rate would reach 7.2 per cent in 2020 and 7.3 per cent next year.
That would mark a big jump from the 6.3 percent growth rate in 2016.
The plan also aims to create 5 million jobs by 2020 and 10 million jobs in 2030, which is on par with the number of new jobs promised by the previous government.
But with the current pace of development, the government says the country will only be able to keep the pace of job creation for five more years.
The government hopes to boost its economic output by 20 percent by 2020, but that could be difficult because Nepal has already hit a ceiling of 6 percent.
Nepal has been grappling with poverty for years, with the population falling from a high of 7 million in the 1960s to about 2 million now.
That was partly due to the collapse of the Soviet Union, which left the country devastated.
Nepal’s economy has been slow to recover and the country has not recovered from the devastating earthquake and tsunami that struck in 2015, which killed an estimated 18,000 people.
The next government is trying to find a way to get back on track.
It has launched a new $1.3 billion plan for infrastructure projects, but some experts say the government is lagging behind.
The plan has been criticized by some as overly ambitious and may not be enough to help Nepal’s poor.
Numerous surveys have shown that Nepal’s per capita GDP is just a bit above the global average.
It is the sixth poorest country in the world, according to the World Bank.