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Aliases: Federal Democratic Republic of Nepal, Sanghiya Loktantrik Ganatantra Nepal

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Object «Nepal» has attributes

Attribute Value
Geography
Area 147,181 km²
Continent Asia
Land area 143,351 km²
Water area 3,830 km²
Land boundaries 3,159 km
Border countries
  • China
  • India
Coastline 0 km
Mean elevation 2,565 m
Lowest point 70 m
Highest point 8,848 m
People
Population 30,327,877
Official languages
  • Nepali
Religion Hindu
Government
Long country name Federal Democratic Republic of Nepal
Short country name Nepal
Long local name Sanghiya Loktantrik Ganatantra Nepal
Short local name Nepal
Former name Add
Government type Federal parliamentary republic
Capital Kathmandu
Economy
GDP (PPP) 79,190,000,000 USD
GDP (OER) 24,880,000,000 USD
GDP (real growth rate) 7.9 %
GDP - per capita (PPP) 2,700 USD
Gross national saving 45.4 % of GDP
Labor force 16,810,000
Unemployment rate 3 %
Population below poverty line 25.2 %
Budget revenues 5,925,000,000 USD
Budget expenditures 5,945,000,000 USD
Military expenditures 1.44 % of GDP
Taxes and other revenues 23.8 % of GDP
Budget surplus or deficit -0.1 % of GDP
Public debt 26.4 % of GDP
Inflation rate 4.5 %
Central bank discount rate 7 %
Commercial bank prime lending rate 11.3 %
Stock of narrow money 5,505,000,000 USD
Stock of broad money 5,505,000,000 USD
Stock of domestic credit 21,990,000,000 USD
Market value of publicly traded shares 17,570,000,000 USD
Current account balance -93,000,000 USD
Exports 818,700,000 USD
Imports 10,000,000,000 USD
Reserves of foreign exchange and gold 9,091,000,000 USD
External debt 5,849,000,000 USD
National currency Nepalese rupees
National currency (code) NPR
National currency (symbol)
National currency rate to USD 104

During the late 18th-early 19th centuries, the principality of Gorkha united many of the other principalities and states of the sub-Himalayan region into a Nepali Kingdom. Nepal retained its independence following the Anglo-Nepalese War of 1814-16 and the subsequent peace treaty laid the foundations for two centuries of amicable relations between Britain and Nepal. (The Brigade of Gurkhas continues to serve in the British Army to the present day.) In 1951, the Nepali monarch ended the century-old system of rule by hereditary premiers and instituted a cabinet system that brought political parties into the government. That arrangement lasted until 1960, when political parties were again banned, but was reinstated in 1990 with the establishment of a multiparty democracy within the framework of a constitutional monarchy. An insurgency led by Maoists broke out in 1996. During the ensuing 10-year civil war between Maoist and government forces, the monarchy dissolved the cabinet and parliament and re-assumed absolute power in 2002, after the crown prince massacred the royal family in 2001. A peace accord in 2006 led to the promulgation of an interim constitution in 2007. Following a nationwide Constituent Assembly (CA) election in 2008, the newly formed CA declared Nepal a federal democratic republic, abolished the monarchy, and elected the country's first president. After the CA failed to draft a constitution by a 2012 deadline set by the Supreme Court, then-Prime Minister Baburam BHATTARAI dissolved the CA. Months of negotiations ensued until 2013 when the major political parties agreed to create an interim government headed by then-Chief Justice Khil Raj REGMI with a mandate to hold elections for a new CA. Elections were held in 2013, in which the Nepali Congress won the largest share of seats in the CA and in 2014 formed a coalition government with the second-place Communist Party of Nepal-Unified Marxist-Leninist (UML) and with Nepali Congress (NC) President Sushil KOIRALA serving as prime minister. Nepal's new constitution came into effect in 2015, at which point the CA became the Parliament. Khagda Prasad Sharma OLI served as the first post-constitution prime minister from 2015 to 2016. OLI resigned ahead of a no-confidence motion against him, and Parliament elected Communist Party of Nepal-Maoist (CPN-M) leader Pushpa Kamal DAHAL (aka "Prachanda") prime minister. The constitution provided for a transitional period during which three sets of elections – local, provincial, and national – needed to take place. The first local elections in 20 years occurred in three phases between May and September 2017, and state and federal elections proceeded in two phases in November and December 2017. The parties headed by OLI and DAHAL ran in coalition and swept the parliamentary elections, and OLI, who led the larger of the two parties, was sworn in as prime minister in February 2018. In May 2018, OLI and DAHAL merged their parties - the UML and CPN-M - to establish the Nepal Communist Party (NCP), which is now the ruling party in Parliament.  

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