KATHMANDU, July 30: Prime Minister KP Sharma Oli has said that Nepal is set to officially graduate from the category of Least Developed Countries (LDCs) to a Developing Country by November 2026.
Responding to queries raised during Wednesday’s National Assembly session on the “Study Report on Nepal's Graduation from LDC to Developing Country Status, 2081,” PM Oli confirmed that the graduation process is already assured.
He noted that Nepal’s graduation journey began in 2010 with a structured plan and has progressed through multiple evaluation stages. According to him, Nepal has already met the required criteria, including per capita income.
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“Our current per capita income is around USD 1,400, which meets the threshold. Based on this and other indicators, the international community has included Nepal in the list of countries set for graduation,” he said.
PM Oli further said that the final evaluation took place during the global COVID-19 pandemic, during which Nepal’s economic resilience was internationally recognized.
“While major economies were shrinking, Nepal managed to maintain stability. Our economic growth rate of over 7 percent before the pandemic and improvements in human development indicators formed the strong foundation for graduation,” he said.
He expressed confidence that the upgrade will enhance Nepal’s global standing and open new doors for development, urging all to be assured that Nepal will officially become a developing nation by November 2026.
