June 13: Nepal has been listed in the third place among the fastest growing economies in the world. A report by World Economic Forum (WEF) made this revelation projecting that Nepal's economic growth will be 7.5 percent in 2017 on the basis of World Bank research.

The report stated that Nepal will achieve the astounding economic growth rate thanks to favorable climate, speedy reconstruction works after the earthquake and balanced trade with India.

Similarly, the report which was unveiled on June 9 has projected that India will be the fourth fastest growing economy. India ranked in fourth position with the economic growth rate of 7.2 percent due to its increase in import and government expenditure.

Ethiopia has topped the list with an economic growth rate of 8.3 percent. Ethiopia is followed by Uzbekistan with 7.6 percent growth rate. The country ranked in second position due to the increase of petroleum production and price hike of petroleum products in global market.

Among the 10 fastest growing economies, Tanzania also ranked fourth along with India with 7.2 percent economic growth.

Similarly, Djibouti and Laos are projected to gain seven percent of economic growth each while Cambodia, Myanmar and Philippines will have an economic growth rate of 6.9 percent.