Publication:
Bhutan Country Economic Update : Accelerating Growth and Poverty Reduction

dc.contributor.author World Bank
dc.date.accessioned 2013-03-12T16:19:51Z
dc.date.available 2013-03-12T16:19:51Z
dc.date.issued 2007-09-22
dc.description.abstract This report was prepared to help the Royal Government of Bhutan (RGoB) meet its felt need for more economic analysis and policy advice. It also seeks to provide information to a wider audience of development partners and interested parties. Over the past 25 years, Bhutan has been developing rapidly, pursuing sound economic policies, exploiting hydropower, and enjoying strong support from external development partners. Solid growth continues to raise per capita income and support improvements in social indicators. Through the prism of these four elements, this report seeks to contribute to the policy discussion by providing an integrative analysis and update of the Bhutanese economy, as well as developing a set of key recommendations and issues that warrant consideration or further study. Section two describes ongoing governance reforms, outlines the objectives articulated in Bhutan's Vision 2020 document and the Ninth Five-Year Plan (Ninth Plan), discusses the poverty reduction strategy, and notes progress towards meeting the millennium development goals. Section three examines recent economic developments, including growth, the balance of payments, and external debt. Section four analyzes macroeconomic policy, highlighting the challenge of fiscal volatility and the need to manage expectations surrounding the coming on-stream of the giant hydropower project Tala. Section five discusses several structural aspects of public resource management, including ongoing fiscal and financial management reforms, the importance of avoiding the 'natural resource curse,' and the treatment of state owned enterprises. Section six investigates the role of strengthening the investment climate for facilitating private sector development. Section seven comments on the prospects for accelerating growth, looking at the development of additional hydropower resources, construction, tourism, and agribusiness, emphasizing that while hydropower will continue to drive economic growth, tourism and value added activities in agriculture will be central to boosting growth and generating broad-based employment. Section eight concludes with medium term development prospects and challenges. en
dc.identifier http://documents.worldbank.org/curated/en/2007/09/16494240/bhutan-accelerating-growth-poverty-reduction-country-economic-update
dc.identifier.uri http://hdl.handle.net/10986/12654
dc.language English
dc.language.iso en_US
dc.publisher Washington, DC
dc.rights CC BY 3.0 IGO
dc.rights.holder World Bank
dc.rights.uri http://creativecommons.org/licenses/by/3.0/igo/
dc.subject ACCESS TO SAFE WATER
dc.subject ACCOUNTABILITY MECHANISMS
dc.subject ACCOUNTING
dc.subject ANNUAL BUDGET
dc.subject ANNUAL BUDGETS
dc.subject ARTICLE
dc.subject AUDITOR GENERAL
dc.subject BALANCE OF PAYMENTS
dc.subject BALANCE SHEETS
dc.subject BANK LENDING
dc.subject BANKING SYSTEM
dc.subject BARRIERS TO ENTRY
dc.subject BASIC SERVICES
dc.subject BOND ISSUES
dc.subject BONDS
dc.subject BUDGET CONSTRAINTS
dc.subject BUDGET DEFICIT
dc.subject BUDGET DEFICITS
dc.subject BUDGET PREPARATION
dc.subject BUDGET PROCESS
dc.subject BUDGET SYSTEMS
dc.subject BUDGETING
dc.subject CAPACITY CONSTRAINTS
dc.subject CAPITAL EXPENDITURE
dc.subject CAPITAL EXPENDITURES
dc.subject CASH RESERVE
dc.subject CASH RESERVE RATIO
dc.subject CENTRAL BANK
dc.subject CENTRAL BANK BILLS
dc.subject CENTRAL GOVERNMENT
dc.subject CENTRAL GOVERNMENT EXPENDITURE
dc.subject CIVIL SERVICE
dc.subject CIVIL SOCIETY ORGANIZATIONS
dc.subject COMMERCIAL TERMS
dc.subject CONSUMER PRICE INDEX
dc.subject CONTRACT LAW
dc.subject CREDIT GROWTH
dc.subject CREDITOR
dc.subject CURRENCY
dc.subject CURRENCY BOARD
dc.subject CURRENCY BOARD ARRANGEMENT
dc.subject CURRENT ACCOUNT DEFICIT
dc.subject DEBT
dc.subject DEBT MANAGEMENT
dc.subject DEBT SERVICE
dc.subject DEBT SERVICE PAYMENTS
dc.subject DEBT STOCKS
dc.subject DEBT SUSTAINABILITY
dc.subject DECENTRALIZATION
dc.subject DEFICITS
dc.subject DEPOSIT
dc.subject DEPOSIT LIABILITIES
dc.subject DEPOSITS
dc.subject DEVELOPMENT BANK
dc.subject DISBURSEMENTS
dc.subject DOMESTIC BOND
dc.subject DOMESTIC BORROWING
dc.subject DOMESTIC CAPITAL
dc.subject DOMESTIC CAPITAL MARKETS
dc.subject DOMESTIC CREDIT
dc.subject DOMESTIC DEBT
dc.subject DOMESTIC REVENUE
dc.subject DONOR ASSISTANCE
dc.subject DONOR FUNDING
dc.subject DONOR FUNDS
dc.subject ECONOMIC CLASSIFICATION
dc.subject ECONOMIC DEVELOPMENT
dc.subject ECONOMIC DEVELOPMENTS
dc.subject ECONOMIC GROWTH
dc.subject ECONOMIC POLICIES
dc.subject ECONOMIES OF SCALE
dc.subject EDUCATIONAL ATTAINMENT
dc.subject ENABLING ENVIRONMENT
dc.subject EQUIPMENT
dc.subject EXCESS LIQUIDITY
dc.subject EXCHANGE RATE
dc.subject EXPENDITURE
dc.subject EXPENDITURES
dc.subject EXPORTERS
dc.subject EXTERNAL DEBT
dc.subject EXTERNAL FINANCING
dc.subject EXTERNAL GRANTS
dc.subject EXTERNAL IMBALANCES
dc.subject EXTERNAL INVESTORS
dc.subject FINANCES
dc.subject FINANCIAL ACCOUNTABILITY
dc.subject FINANCIAL INSTRUMENTS
dc.subject FINANCIAL MANAGEMENT
dc.subject FINANCIAL MARKET
dc.subject FINANCIAL MARKETS
dc.subject FINANCIAL SYSTEM
dc.subject FISCAL ACCOUNTS
dc.subject FISCAL DEFICIT
dc.subject FISCAL DISCIPLINE
dc.subject FISCAL MANAGEMENT
dc.subject FISCAL POLICY
dc.subject FISCAL SUSTAINABILITY
dc.subject FIXED EXCHANGE RATE
dc.subject FOREIGN EXCHANGE
dc.subject GOVERNMENT EXPENDITURE
dc.subject GOVERNMENT FINANCE
dc.subject GOVERNMENT INVESTMENT
dc.subject GOVERNMENT REVENUE
dc.subject GOVERNMENT SPENDING
dc.subject GROSS DOMESTIC PRODUCT
dc.subject HARD BUDGET CONSTRAINTS
dc.subject HARD CURRENCY
dc.subject HEALTH CARE
dc.subject HOLDING
dc.subject HOLDINGS
dc.subject HOUSEHOLD INCOME
dc.subject HUMAN CAPITAL
dc.subject HUMAN DEVELOPMENT
dc.subject HUMAN RESOURCES
dc.subject IMMUNIZATION
dc.subject INCOME TAX
dc.subject INDEBTEDNESS
dc.subject INFLATION
dc.subject INFORMATION TECHNOLOGIES
dc.subject INFRASTRUCTURE INVESTMENT
dc.subject INTEREST PAYMENTS
dc.subject INTEREST RATE
dc.subject INTEREST RATE SPREAD
dc.subject INTEREST RATES
dc.subject INTERNATIONAL DEVELOPMENT
dc.subject INTERNATIONAL STANDARDS
dc.subject INVESTMENT CLIMATE
dc.subject ISSUANCE
dc.subject ISSUANCE OF TREASURY BILLS
dc.subject LABOR MARKET
dc.subject LABOR MARKETS
dc.subject LIABILITY
dc.subject LIQUIDITY
dc.subject LIVING STANDARD
dc.subject LIVING STANDARDS
dc.subject LOAN
dc.subject LOCAL GOVERNMENT
dc.subject LOCAL GOVERNMENTS
dc.subject MACROECONOMIC FRAMEWORK
dc.subject MACROECONOMIC MANAGEMENT
dc.subject MACROECONOMIC POLICY
dc.subject MARGINAL COST
dc.subject MARKET REFORMS
dc.subject MEDIUM TERM EXPENDITURE
dc.subject MEDIUM TERM EXPENDITURE FRAMEWORK
dc.subject MEDIUM-TERM FISCAL FRAMEWORK
dc.subject MEDIUM-TERM OUTLOOK
dc.subject MINISTRY OF FINANCE
dc.subject MONETARY AUTHORITY
dc.subject MONETARY FUND
dc.subject MONETARY POLICY
dc.subject NATIONAL BANK
dc.subject OPEN ECONOMIES
dc.subject OPPORTUNITY COST
dc.subject OVERDRAFT FACILITIES
dc.subject OVERDRAFT FACILITY
dc.subject PENSION
dc.subject PERPETUITY
dc.subject PERSONAL INCOME
dc.subject POVERTY PROFILE
dc.subject POVERTY REDUCTION
dc.subject POVERTY REDUCTION STRATEGY
dc.subject PRICE MOVEMENTS
dc.subject PRIVATE CREDIT
dc.subject PRIVATE INVESTMENT
dc.subject PRIVATE SECTOR
dc.subject PRIVATE SECTOR CREDIT
dc.subject PRIVATE SECTOR GROWTH
dc.subject PRODUCTIVE INVESTMENTS
dc.subject PROGRAMS
dc.subject PUBLIC ACCOUNTS
dc.subject PUBLIC DEBT
dc.subject PUBLIC EXPENDITURE
dc.subject PUBLIC EXPENDITURE MANAGEMENT
dc.subject PUBLIC FINANCE
dc.subject PUBLIC INVESTMENT
dc.subject PUBLIC OWNERSHIP
dc.subject PUBLIC RESOURCES
dc.subject PUBLIC SECTOR
dc.subject PUBLIC SERVICE
dc.subject PUBLIC SERVICE DELIVERY
dc.subject PUBLIC SERVICES
dc.subject PUBLIC SPENDING
dc.subject RECURRENT EXPENDITURE
dc.subject RECURRENT EXPENDITURES
dc.subject REFERENDUM
dc.subject RESERVES
dc.subject RESOURCE ALLOCATION
dc.subject RESOURCE AVAILABILITY
dc.subject RESOURCE FLOWS
dc.subject RESOURCE MANAGEMENT
dc.subject RETURN
dc.subject REVENUE SOURCES
dc.subject RULE OF LAW
dc.subject SALES TAX
dc.subject SANITATION
dc.subject SECTORAL ALLOCATIONS
dc.subject SECTORAL PLANS
dc.subject SECTORAL POLICIES
dc.subject SEPARATION OF POWERS
dc.subject SHORT-TERM BILLS
dc.subject SOCIAL INDICATORS
dc.subject SOCIAL SERVICES
dc.subject STRUCTURAL REFORMS
dc.subject TAX
dc.subject TAXPAYERS
dc.subject TELECOMMUNICATIONS
dc.subject TOTAL SPENDING
dc.subject TRADING
dc.subject TRANSACTIONS COSTS
dc.subject TRANSPARENCY
dc.subject TREASURY
dc.subject TREATY
dc.title Bhutan Country Economic Update : Accelerating Growth and Poverty Reduction en
dspace.entity.type Publication
okr.date.disclosure 2012-07-11
okr.doctype Economic & Sector Work :: Economic Updates and Modeling
okr.doctype Economic & Sector Work
okr.docurl http://documents.worldbank.org/curated/en/2007/09/16494240/bhutan-accelerating-growth-poverty-reduction-country-economic-update
okr.globalpractice Finance and Markets
okr.globalpractice Governance
okr.identifier.externaldocumentum 000333038_20120712001649
okr.identifier.internaldocumentum 16494240
okr.identifier.report 70559
okr.language.supported en
okr.pdfurl http://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2012/07/12/000333038_20120712001649/Rendered/PDF/705590ESW0P0950ate00September020070.pdf en
okr.region.administrative South Asia
okr.region.country Bhutan
okr.sector Public Administration, Law, and Justice
okr.theme Economic management :: Macroeconomic management
okr.theme Economic management :: Analysis of economic growth
okr.topic Public Sector Economics
okr.topic Finance and Financial Sector Development :: Debt Markets
okr.topic Public Sector Expenditure Policy
okr.topic Governance :: National Governance
okr.topic Finance and Financial Sector Development :: Access to Finance
okr.topic Public Sector Development
okr.unit Econ. Policy & Poverty Sector (SASEP)
okr.volume 1 of 1
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