Bhutan

The Kingdom of Bhutan has gone through a remarkable socio-economic transformation over the past five decades. It has progressed from a traditional stage of economic development with limited production rooted in one primary sector, to achieving the preconditions for an economic take-off. However, Bhutan is still confronted with a number of development challenges, including a narrow economic base, limited private sector development, underdeveloped credit markets, and a build-up in economic inequality with significant youth unemployment.
This book chronicles Bhutan's development story and discusses a range of policies that can unlock the country's economic potential and overcome its limitations. It consolidates a body of knowledge accumulated by the Asian Development Bank while working with the Royal Government of Bhutan on monitoring and strengthening its macroeconomic management framework, and through support to development activities throughout the country.

Sabyasachi Mitra is the Deputy Representative at the Asian Development Bank, European Representative Office, Frankfurt, Germany.
Hoe Yun Jeong is a Senior Economist in the Regional Cooperation and Operations Coordination Division of South Asia Department at the Asian Development Bank.