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Business

Economic growth could hit 10.2 percent: RMA

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).

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GDP expands to Nu 132B

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.

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3.92 percent CPI registered in November

…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).

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Ngultrum value falls in P’ling

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.

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Lack of policy obstructs banks from financing start ups

Finance: The lack of a policy or regulation in financing start up projects is limiting banks from funding projects, the Financial Institutions Association of Bhutan’s president, Kipchu Tshering, said during a panel discussion during the Global Entrepreneurship Week held in Thimphu.

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RMA approves agent banking

…this will materialise from November 4

Banking: The banks may not reach every nook and corner of the country but their services will be available in the most remote parts of the country, should the newly approved agent-banking work out.

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Apple production falling

Attributed to urbanisation

Exports: More than half of the apples produced in the country are exported and yet Bhutanese apples constitute only 3.55 percent of the total apple market in India and just 1.22 percent in Bangladesh.

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