The IMF Country Reports Series covers economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with officials of the country, is published at the option of the member.
This paper describes economic developments in Bhutan during the 1990s. The paper discusses the fiscal outcome in 1993/94 (July-June) and the main elements of the authorities' budget proposals for 1994/95. It assesses monetary and credit developments, as well as the major initiatives adopted by the authorities in the area of financial sector reform. The paper analyzes balance-of-payments developments in 1993/94 and changes in the exchange and trade system. The paper also highlights that output was estimated to have risen by more than 5 percent in 1993.