HOWIF supports Sustainable Development Goals

Goal 8: Promote inclusive and sustainable economic growth, employment and decent work for all

Goal 8 Targets

The targets under SDG 8 cover, among others,
(i) Sustaining and achieving per capita economic growth with at least seven percent GDP growth per annum in the LDCs,
(ii) Achieving higher levels of economic productivity through diversification, technological upgrading and innovation,
(iii) Achieving full and productive employment and decent work for all women and men,
(iv) improve resource efficiency,
(v) elimination of the worst forms of child labor,
(vi) expanding financial services for all.

The average GDP growth over the two decades was around 4 percent; growth is partly dependent on agriculture which is mostly weather-reliant.
Material intensity of manufacturing is high at 66 percent. Under employment of 15 to 59 years old is as high as 27.8 percent; and nearly a quarter of those who are employed fall in the category of ‘working poor’.
The labor market is predominantly informal with limited social security coverage and gender-based wage discrimination; child labor is not wholly eliminated, with 30 percent of them working under hazardous conditions.
The global target for 2030 is to achieve per capita GDP growth of at least seven percent.
The other targets are to reduce material intensity in manufacturing to 60 percent; lower underemployment to less than 10 percent; and to eliminate the worst forms of child labor.
Alongside, the target is also to increase annual number of jobs in the tourism industry tenfold and to increase the direct contribution of tourism to GDP four-fold.
Moreover, the target for access to finance is set at 36 commercial bank branches per 100,000 people by 2030, doubling the current rate of prevalence; 80 percent of households are targeted to have access to community financial institutions such as cooperatives within 30 minutes of walking distance.

Source: National Planning Commission, Government of Nepal