Bhutan Development Update, August 2020
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World Bank, Washington, DC
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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.
Palabras clave
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