For Bhutan, the support and assistance of its development partner is overwhelming. One partner, whose assistance comes to end in the next few years, they have expressed to assist Bhutan beyond the stipulated time to the year 2027. We witnessed the government’s effort, we rejoiced in the leadership of Our Majesties in a time that the pandemic wreaked havoc across the globe, putting this all together, our developments are lauded and as appreciation, many countries came forward to help us with vaccines too. Vaccines at this time is nobody’s luxury, everyone is turning left and right, up and down to get it for their people. Bhutan got it, we then understand our stand as a country. With this overwhelming support, let us move ahead. We see the vital signs of the economy of the country dying as the pandemic is wreaking havoc in the economy of the country. With the support we have, it is only positive to move ahead with renewed hopes and aspirations. Even if the government thinks we don’t need support and assistance of our development partners and that we want to become a self-reliant, our North Star – Our His Majesty is there to guide us all. His Majesty has never failed his people, His Majesty will never fail his people – and when it involves the lifeline of his people, His Majesty will see at what is best for the people and the country. So far, our economy stands on the whims of hydropower and tourism industries, there is a need to diversify our sources to generate revenue for the government. If the government wants the country to make the economy of the country sound, our government must focus on promoting small and medium scale enterprises and vitalise the dying private sector aligned to new normal. As the rugged mountains dominate the terrain and make the building of roads and other infrastructure difficult and expensive, industrial production is primarily of the cottage industry type – it is all the reason we need to explore beyond what we think is the pillars of the economy. Gross Domestic Product (GDP) in 2020 was projected to grow at 6.5 before the pandemic. As the pandemic hit us, and after the first lockdown, the GDP growth rate was revised to negative 2.1. The pandemic's impacts on the state of food security and nutrition in Bhutan is equally of concern. FAO estimates that the number of undernourished people globally could increase by 132 million, assuming a decline of global GDP of 10 percent attributable to the impact of the economic recession associated with COVID-19.
Copyright © 2021 All Rights Reserved.