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Financial Institutions feel that the tough conditions would restrict credit growth and hit the economy The Financial Institutions Association of Bhutan (FIAB) which met on 18th July to discuss the Royal Monetary Authority (RMA) draft guidelines reopening housing, vehicle and consumer loans has decided to ask the RMA to do …

A joint report by the Ministry of Economic Affairs and the National Statistical Bureau conclude that civil service pay hike would have a very minimal impact on inflation. It says that aggregate demand is not going to rise so much as to give inflationary pressure in the economy. “ This …

The price of eggs has shot up for the third time in this month alone. The sharp increase in the price is due to the recent high mortality case of poultry in Tsirang commercial farms and the hike in fuel price. Last week, a tray of eggs was sold at …

A new report by the Office of Consumer Protection under the Ministry of Economic Affairs which was drafted on the direction of the MoEA Minister Lyonpo Norbu Wangchuk highlights various recommendations to fight inflation. The report is titled ‘Report on Price Increases and Inflation,’ and was made in collaboration with …

Banks are happy about the move but want the RMA to increase the cap on housing loans After floating the draft guidelines on Housing, Vehicle and Consumer loans last week, the Royal Monetary Authority (RMA) has now announced that it would allow banks to reopen Housing, Vehicle and Consumer loans …

While most of the focus has been on taxes being levied on vehicles and fuel most people are still unaware of the impending five percent tax on their telecommunication services imposed by the government’s Tax Bill. Though this is yet to come into effect, telecommunication service providers like Bhutan Telecom …

Claims that 5 percent hike in fuel prices should not lead to rise in prices The government’s Task Force to fight inflation had its first meeting on Thursday chaired by the Minister for Economic Affairs Lyonpo Norbu Wangchuk. The terms of reference of the multi sectoral committee (see box) is …

The draft guidelines have been put up on the RMA website for public feedback In what will be welcome news for those eagerly waiting to build or buy their homes the RMA has floated some draft guidelines on its website that allow Financial Institutions (FIs) to give housing loans with …

The Pay Commission report and the Pay Revision report proposals to monetize the quota at Nu 160,000 have been dropped by the govt In what will be music to the ears of more than 3,000 eligible civil servants, the government has decided to lift the vehicle quota freeze imposed in …

The goodwill generated during Prime Minister Narendra Modi’s visit and the traditional ties of friendship between Bhutan and India has not been restricted to only kind words about each other. This April 2014 to 2015 March annual budget of India has allotted a substantial amount to Bhutan’s 11th plan priorities …