Bhutan Development Update, August 2020

Bhutan Development Update, August 2020

Bhutan’s economy has been severely affected by Coronavirus 2019 (COVID-19) and the subsequent border closure to contain a domestic outbreak of the pandemic. In this context, economic growth is estimated to have decelerated from 3.8 percent in FY201...

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Bibliographic Details
Main Author: World Bank
Format: Report
Language:English
Published: World Bank, Washington, DC 2020
Subjects:
ECONOMIC GROWTH
INFLATION
MONETARY POLICY
FINANCIAL SECTOR
EXTERNAL SECTOR
FISCAL TRENDS
ECONOMIC OUTLOOK
RISKS
SUSTAINABLE FOREST MANAGEMENT
EQUITABLE GROWTH
FOREST GOVERNANCE
CORONAVIRUS
COVID-19
PANDEMIC IMPACT
PANDEMIC RESPONSE
FOOD SECURITY
TOURISM
Online Access:http://documents.worldbank.org/curated/en/156861602223418430/Bhutan-Development-Update-Pathways-to-Enhancing-Sustainable-Forest-Management-and-Equitable-Socio-Economic-Development-in-Bhutan
http://hdl.handle.net/10986/34603
id okr-10986-34603
recordtype oai_dc
spelling okr-10986-346032021-05-25T09:54:45Z Bhutan Development Update, August 2020 World Bank ECONOMIC GROWTH INFLATION MONETARY POLICY FINANCIAL SECTOR EXTERNAL SECTOR FISCAL TRENDS ECONOMIC OUTLOOK RISKS SUSTAINABLE FOREST MANAGEMENT EQUITABLE GROWTH FOREST GOVERNANCE CORONAVIRUS COVID-19 PANDEMIC IMPACT PANDEMIC RESPONSE FOOD SECURITY TOURISM Bhutan’s economy has been severely affected by Coronavirus 2019 (COVID-19) and the subsequent border closure to contain a domestic outbreak of the pandemic. In this context, economic growth is estimated to have decelerated from 3.8 percent in FY2018-19 to 1.5 percent in FY2019-20. Exports and imports have decreased significantly, in line with weak foreign and domestic demand and disruptions to trade. The government outlined a comprehensive national response to COVID-19 to protect vulnerable households and minimize the impact on employment, growth, and financial stability. Health measures are aimed at containing the pandemic and strengthening healthcare system resilience. The recovery of manufacturing and other exporting industries is likely to be gradual, because of the slowdown in India, Bhutan’s main export market. Similarly, the construction sector is expected to recover slowly reflecting a limited pipeline of public sector infrastructure projects. 2020-10-09T14:40:15Z 2020-10-09T14:40:15Z 2020-08 Report http://documents.worldbank.org/curated/en/156861602223418430/Bhutan-Development-Update-Pathways-to-Enhancing-Sustainable-Forest-Management-and-Equitable-Socio-Economic-Development-in-Bhutan http://hdl.handle.net/10986/34603 English CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank, Washington, DC Economic & Sector Work Economic & Sector Work :: Economic Updates and Modeling South Asia Bhutan
repository_type Digital Repository
institution_category Foreign Institution
institution Digital Repositories
building World Bank Open Knowledge Repository
collection World Bank
language English
topic ECONOMIC GROWTH
INFLATION
MONETARY POLICY
FINANCIAL SECTOR
EXTERNAL SECTOR
FISCAL TRENDS
ECONOMIC OUTLOOK
RISKS
SUSTAINABLE FOREST MANAGEMENT
EQUITABLE GROWTH
FOREST GOVERNANCE
CORONAVIRUS
COVID-19
PANDEMIC IMPACT
PANDEMIC RESPONSE
FOOD SECURITY
TOURISM
spellingShingle ECONOMIC GROWTH
INFLATION
MONETARY POLICY
FINANCIAL SECTOR
EXTERNAL SECTOR
FISCAL TRENDS
ECONOMIC OUTLOOK
RISKS
SUSTAINABLE FOREST MANAGEMENT
EQUITABLE GROWTH
FOREST GOVERNANCE
CORONAVIRUS
COVID-19
PANDEMIC IMPACT
PANDEMIC RESPONSE
FOOD SECURITY
TOURISM
World Bank
Bhutan Development Update, August 2020
geographic_facet South Asia
Bhutan
description Bhutan’s economy has been severely affected by Coronavirus 2019 (COVID-19) and the subsequent border closure to contain a domestic outbreak of the pandemic. In this context, economic growth is estimated to have decelerated from 3.8 percent in FY2018-19 to 1.5 percent in FY2019-20. Exports and imports have decreased significantly, in line with weak foreign and domestic demand and disruptions to trade. The government outlined a comprehensive national response to COVID-19 to protect vulnerable households and minimize the impact on employment, growth, and financial stability. Health measures are aimed at containing the pandemic and strengthening healthcare system resilience. The recovery of manufacturing and other exporting industries is likely to be gradual, because of the slowdown in India, Bhutan’s main export market. Similarly, the construction sector is expected to recover slowly reflecting a limited pipeline of public sector infrastructure projects.
format Report
author World Bank
author_facet World Bank
author_sort World Bank
title Bhutan Development Update, August 2020
title_short Bhutan Development Update, August 2020
title_full Bhutan Development Update, August 2020
title_fullStr Bhutan Development Update, August 2020
title_full_unstemmed Bhutan Development Update, August 2020
title_sort bhutan development update, august 2020
publisher World Bank, Washington, DC
publishDate 2020
url http://documents.worldbank.org/curated/en/156861602223418430/Bhutan-Development-Update-Pathways-to-Enhancing-Sustainable-Forest-Management-and-Equitable-Socio-Economic-Development-in-Bhutan
http://hdl.handle.net/10986/34603
_version_ 1764481255708033024

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