15,602 registered Bhutanese living abroad and many more leaving but actual numbers could be double PM and OL not in favour of Bhutan becoming dependent on remittances Bhutan’s remittance from Bhutanese abroad in 2020 at Nu 8.269 billion (bn) was larger than the total tariff paying tourism foreign exchange earnings …
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Twenty one COVID-19 cases of the Omicron variant have been detected in India so far. There are more suspected cases in India who are quarantined with their genome reports awaited in the coming days. The WHO in a statement on Friday said that Omicron had been detected in 38 countries …
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In a recent meeting between the Royal Monetary Authority (RMA) and board of T-Bank, a board member asked the RMA Governor if Financial Institutions (FIs) can give dividends for 2021. However, the Governor replied in the negative saying this is not the right time to give dividends especially with the …
Read More »Ever since the start of the pandemic in March 2020, Bhutanese have been the recipient of an extraordinary monetary assistance firstly in the form of the Interest Payment Support Kidu from His Majesty The King, followed by a blanket loan deferral for more than two years from March 2020 to …
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Projected Revenue is well below the Nu 194 bn Current Expenditure outlay of the 12th plan This may impact the overall size of the Nu 310 bn 12th plan No salary cuts or new taxes but there will be cost cutting The Ministry of Finance (MoF) while replying to an …
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With a new variant known as B.1.1.529 or Omicron first detected in South Africa, experts are calling it the worst one ever seen so far, due to its double the number of mutations compared to the highly infectious Delta variant. Data from South Africa shows the new variant is already …
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In 2020 Bhutan saw the highest ever remittance flow of Nu 8.269 billion (bn). This was higher than the combined remittance of Nu 2.901 bn in 2019 and 3.032 bn in 2020. It was theorized by some that the 2020 remittance may be a one off due to COVID and …
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The Coronavirus has left many business entities in shambles all across the world and the air transportation business is no exception. With the measly number of clients, the two airlines in Bhutan are struggling to meet the daily operational costs let alone make a profit. Bhutan Airlines After the onset …
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The 2019 Pay Revision Act is very clear that Ministers or positions equivalent to them are entitled to one chauffer driven SUV of 3,000 cc each, which means one Toyota Prado for each of them. However, in contravention to the Act, it has been learnt that the Finance Minister, Foreign …
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The 2020-21 Annual Audit Report for the first time has given a lot of space to the issues of increasing national debt, rising fiscal deficits and the faster rise of current expenditure compared to revenue. RAA has pointed to debt as one of the main issues in its executive summary …
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The Bhutanese Leading the way.