Bhutan: 2024 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Bhutan
IMF Staff Country Reports, September 19, 2024
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- Bhutan: 2024 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Bhutan
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Bibliographic details
- Published: September 19, 2024
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9798400288241.002
Key findings on social outcomes and living standards
- Bhutan achieved significant improvements in social conditions during the last decade, raising living standards.
- Poverty and inequality have declined.
- Extreme poverty has been eliminated.
Growth outlook and drivers
- Growth is projected to accelerate over the medium term as a large hydro-project is commissioned.
- Capital spending is expected to be boosted with the support of external grants.
- Pull factors are expected to slow down emigration, thereby reducing pressures on the supply side.
Fiscal stance and recommendations
- A gradual fiscal consolidation is needed.
- Consolidation should be based on revenue mobilization and accompanied by some spending restraint.
- Objectives: increase fiscal space and reduce reliance on external grants in the longer term.
Structural policy priorities
- Focus on fostering high-quality private sector jobs.
- Diversify exports.
Financial sector governance and safeguards
- There is scope to strengthen the Royal Monetary Authority’s governance framework.
- Step up anti-money laundering/countering the financing of terrorism (AML/CFT) efforts.
Data quality and transparency
- Improvements in data quality have been significant.
- Further actions are needed to address remaining weaknesses.
- Specific transparency gap noted: greater transparency on crypto assets operations is required.
Publication and metadata
- Subject: External debt, Public debt, Revenue administration
- Keywords: capital investment, cover loan restructuring, FDI company, foreign exchange resource, Global, IMF team
- Pages: 91
- Volume: 2024
- Issue: 298
- Series: Country Report No. 2024/298
- DOI: https://doi.org/10.5089/9798400288241.002
- Stock No: 1BTNEA2024001
- ISBN: 9798400288241
- ISSN: 1934-7685
- Publication date on landing page: September 19, 2024
Bhutan: 2024 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Bhutan (IMF Staff Country Reports 2024, Issue 298)
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