The new recurring scheme of the Bank of Bhutan (BoB) will allow its customers to make multiple deposits (subject to total deposit of Nu 20,000 per month) of varying amounts in a month.Read More »
Export of electricity contributed Nu 13.03B
The government’s export promotion drive and import substitution did not so much result in improving the country’s trade balance, which began deteriorating since 2013.Read More »
Can the bird fly high with the monkey’s fortune in the coffer?
Yearender | Economy: The Monkey has built its fortune by bolstering the humble coffer it inherited. As the time approached for the Monkey to pass its heirloom to the bird, a trifling bug seems to have infested the coffer.
Economy: Having realised economic growth of 7.6 percent in the past three decades, Bhutan is the one of the most successful countries, said senior economist and resident representative of the World Bank, Yoichiro Ishihara, at a panel discussion following the Launch of economic early warning system yesterday.Read More »
Inflation: The economy saw one of the lowest inflation rates last year at 3.22 percent. This figure is the lowest annual inflation the National Statistical Bureau (NSB) recorded since 2004.Read More »
Debt level, however, increased by 42 percent
Report: Should the new hydropower construction and commissioning of ongoing hydropower projects ensue as scheduled, the country’s economic growth between this and the next fiscal year, is projected to grow at an average of 10.2 percent. This is according to the Royal Monetary Authority (RMA).Read More »
GDP: While hotels and restaurants are identified as the fastest growing slice of the economy, the construction sector has experienced a noteworthy growth in double digits. Consequently, country’s economy experienced a growth of 6.5 percent in 2015, as Gross Domestic Product (GDP) expanded from Nu 119.5 billion to Nu 132 billion.Read More »
…this is the highest year-on-year inflation in the last 16 months
Inflation: The price of goods and services between November 2015 and November last year has increased by 3.92 percent, the highest monthly inflation last year, as revealed by the consumer price index (CPI).Read More »
Currency: Indian Rupees (INR) are once again being illegally sold across the border. Both Bhutanese and Indian nationals in need of INR are paying between Nu 108-112 for INR 100. The commission depends on the amount being exchanged.Read More »
Currency: The Central Bank has informed all banks in the country to freeze, until further notice, withdrawals of Ngultrums in exchange for demonetised INR notes of 500 and 1,000 denomination by Bhutanese individuals and companies, Kuensel has learnt.Read More »