Bhutan: Staff Report for the 2014 Article IV Consultation
July 1, 2014
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This 2014 Article IV Consultation highlights that the GDP growth in Bhutan has slowed from about 10 percent in FY2011 (July 1–June 30) to 5 percent in FY2013. Slower growth reflects policy efforts to contain overheating pressures in the form of restrictions on credit for construction and vehicle. Inflation has remained elevated, tracking closely that of India (Bhutan’s main trading partner). Social development indicators have improved steadily, and Bhutan is on track or has achieved most of its Millennium Development Goals. Growth is projected to recover to 6½ percent in FY2014, driven mainly by a pick-up in hydropower-related construction activities and domestic services.
Subject: Asset and liability management, Banking, Credit, External debt, Financial institutions, Financial services, Inflation, Liquidity, Public debt, Treasury bills and bonds
Keywords: Asia and Pacific, CR, credit growth, credit growth rebound, Global, Indian rupee, inflation in Bhutan, ISCR, Liquidity, private sector credit, South Asia, staff projection, Treasury bills and bonds
Pages:
118
Volume:
2014
DOI:
Issue:
178
Series:
Country Report No. 2014/178
Stock No:
1BTNEA2014001
ISBN:
9781498357708
ISSN:
1934-7685
