As outflow of the country’s working-age population continues, Prime Minister Tshering Tobgay reiterated that the answer lies in building a stronger economy at home. Presenting the State of the Nation Report, he said that the Gelephu Mindfulness City, the 13th Five-Year Plan, and the 21st Century Economic Roadmap are not just development plans but part of a broader strategy to reverse the trend of outward migration.
According to the prime minister, over 65,000 Bhutanese, which is around 8.5 per cent of the country’s total population, are currently residing overseas. He expressed concern that the growing number of citizens, particularly youth, seeking employment opportunities abroad poses a serious threat to Bhutan’s socio-economic stability.
“In developed nations, human resources are valued highly. For Bhutan, a developing nation with a small population, it is crucial to retain our human capital. Given our population size, losing skilled and capable people on this scale will have a significant impact on our independence, security, and socio-economic development.”
He added that addressing this issue is a national priority, requiring accelerated economic growth.
Additionally, he said the Economic Stimulus Programme will continue to strengthen the economy, venture capital services will be provided for start-ups and enhance Foreign Direct Investments among others in the country.
He said, on the other hand, this does not mean that the country’s economy is in dire situation.
“In 2023, the Gross Domestic Product stood at Nu 249bn, which increased to Nu 273bn in 2024 reflecting a 9.6 per cent growth in just one year. Moreover, economic experts project that the country’s economy will continue to grow by 8.3 per cent.”
Nonetheless, he stressed that accelerating economic growth remains essential. To ensure success, the government will strengthen policy and governance excellence, engage the private sector as a key partner, and promote investments across the country. The prime minister also called upon all agencies and citizens to actively contribute to economic development.
Kinzang Lhadon & Deki Lhazom
Edited by Kipchu
