“It is not a stimulus plan”, says Druk Phuensum Tshogpa (DPT) of their Economic Action Plan which was revealed to the Media, today. Economic stimulus plans, they say, are necessary to revive an economy in recession and that Bhutan is currently facing the reverse situation.
DPT says the country’s economy has been growing at more than 8 percent, annually. The party has declared that it will commit Nu. 8.7 billion to their Economic Action Plan. DPT says if they get to form the government, their Economic Action Plan will address the most urgent issues first. “The Plan also keeps in mind DPT’s pledge of providing employment to over 1,40,000 youth that will be out in the job market within the next five years”, shares Sangay Thinley Dorji , Vice President , DPT Youth Affairs”.
The Plan’s priorities include sectors like hydropower, construction, finance and tourism, among others, while taking into account critical issues like the rupee problem, credit access, and the ease of doing business.
DPT’s North Thimphu candidate, Kinga Tshering, said some long-term measures to address the rupee shortage are by increasing export of hydropower, and focusing on mining and manufacturing. A short-term measure shared was something called a “currency SWAP” with the Reserve Bank of India against future hydro-earnings.
The Economic Action Plan also highlights leveraging the construction sector to provide employment, increase revenue, and enhance overall productivity of the economy. DPT also says it will support the Bhutanese film industry and promote establishment of private colleges in Bhutan.
DPT also aims to establish an Economic and Financial Advisory Body in the Prime Minister’s Office on the first day of forming the government to implement the Economic Action Plan.
