COUNTRY BACKGROUND - Gross National Happiness Commission

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Fiscal and Monetary Policy Phase I (US$ 7.13m) and Phase II (US$ 1.06 m), Construction of Primary Schools (US$ 4.09 m) and Technical Assistance (US$ 3.70 m). The Asian Development Bank has provided loans for the following projects : Multiproject Phase 1 (US$ 5.28 m) and Phase 2 (US$ 9.81 m), Chirang Hill Irrigation Project (USS$ 4.42 m), Road Mechanisation (US$ 4.91 m), Urban Centres Sewerage (US$ 3.48 m), Highland Livestock Development Project (US$ 5.82 m), Industrial Estates (US$ 1.16m ), Bhutan Development Finance Corporation ( US$ 2.44 m). 8.22 The Kuwait Fund has provided loans for the Gedu Wood Manufacturing Corporation (US$ 9.56 m), Bhutan Board Products (US$ 11.15 m) and Bhutan Calcium Carbide (US$ 7.08 m). 8.23 Commercial loans were secured for the purchase of the BAe-146 aircraft (US$ 22.66 m) and Earth Satellite Station (US$ 1.43 m). The total debt servicing in hard currency during the 7FYP is estimated to be US$ 33.53 m. Annual average for debt servicing is about US$ 6.7 m. Table 8.2 8.3 Foreign Convertible Debt Currency Indicators Loans for Convertible in $US Million: Currency Commitments Loans 198/87-1989/90 and Disbursements 1981/82-1990/91 Item 86/87 87/88 88/89 89/90 Debt outstanding (cumulative) Commitments of loans signed between 25.04 Total Disbursements 41.55 as of Total Repayment 72.62 (interest + principal) 73.62 Debt service payments Financial 1981/92 and 1990/91 0.36 April 1990 0.87 as of April 1990 4.07 6.76 Institute Debt service ratios (Interest + principal payments 9.30 11.10 39.80 65.10 as % of convertible currency exports of goods and services) IFAD 15.70 7.12 0.30 Debt WORLD outstanding BANK as % of GDP 9.60 28.39 13.90 16.01 27.00 28.30 0.64 ADB 37.32 17.78 0.35 Source : Selected Economic Indicators, RMA, Vol. 5. No.2. June 1991 KUWAIT FUND 27.79 23.42 4.94 COMMERCIAL LOAN 24.09 24.09 10.08 TOTAL 133.29 88.42 16.31 Source : Selected Economic Indicators, RMA, Vol. 5. No.2. June 1991 5
Fiscal and Monetary Policy Table 8.4 Debt Servicing Projections for the 7FYP Rupee DebtRupee Debt In addition to the debts servicing described above, there is Rupee debt payable to the Government of India. The debt servicing is mainly for the Chhukha Hydel Project (now known as Chhukha Hydel Corporation). Similar financing of grants and soft loans have been agreed for the Dungsum Cement Project proposed for implementation during the 7FYP. Repayment against the Rupee loans is expected to start in fiscal year 1992/93. Repayment will amount to Rs 70 m a year or Rs 350 m in total during the 7FYP. 6 Foreign Currency (in US $) (i) interest 91/92 92/93 93/94 94/95 95/96 96/97 Total 7FYP 1. Soft Loans 1293 1041 1037 1018 976 932 5004 2. Commercial* 1257 1067 891 721 553 382 3614 subtotal 2550 2108 1928 1739 1529 1314 8618 (ii) principal 1. Soft Loans 3436 1878 2250 2799 3158 3278 13363 2.Commercial * 2758 2510 2261 2261 2261 2261 11554 subtotal 6194 4388 4511 5060 5419 5539 24917 Total i+ii 8744 6496 6439 6799 6948 6853 33535 B. In Ngultrum (i) interest 1. Soft Loans 33618 27066 26962 26468 25376 24232 130104 2. Commercial* 32682 27742 23166 18746 14378 9932 93964 3. Chhukha# 0 20000 20000 20000 20000 20000 100000 subtotal 66300 74808 70128 65214 59754 54164 324068 (ii) principal 1. Soft Loans 89336 48828 58500 72774 82108 85228 347438 2. Commercial* 71708 65260 58786 58786 58786 58786 300404 3. Chhukha# 0 50000 50000 50000 50000 50000 250000 sub total 161044 164088 167286 181560 190894 194014 897842 total i+ii 227344 238896 237414 246774 250648 248178 12219108 Note : data from Department of <strong>National</strong> Accounts and Budget, November 1991. * Druk-Air and Satellite Earth Station. # assuming rescheduling. Exchange rate : $ 1 = Nu 26
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COUNTRY BACKGROUND I. Physical Char
Page 3 and 4: COUNTRY BACKGROUND Minerals The exa
Page 5 and 6: COUNTRY BACKGROUND Bhutan is the le
Page 7 and 8: COUNTRY BACKGROUND personnel polici
Page 9 and 10: CHAPTER 2 ECONOMIC PERFORMANCEECONO
Page 11 and 12: 2: Gross Domestic Product 1980 —
Page 13 and 14: Figure 2.2 Economic Performance IV.
Page 15 and 16: Table 2.4 Government Expenditures 1
Page 17 and 18: Table 2.5 Summary of RGOB Budgetary
Page 19 and 20: Figure 2.5 Economic Performance 2.2
Page 21 and 22: Economic Performance of Infant Mort
Page 23 and 24: Approach to Development · sustaina
Page 25 and 26: Approach to Development 3.19 The fo
Page 27 and 28: Environment and Sustainable Develop
Page 29 and 30: Environment and Sustainable Develop
Page 31 and 32: Women's Involvement in Development
Page 33 and 34: CHAPTER 6 PRIVATISATION AND PUBLIC
Page 35 and 36: unacceptably high inequalities of i
Page 37 and 38: CHAPTER 7 ECONOMIC OUTLOOKECONOMIC
Page 39 and 40: Economic Outlook 7.9 This section e
Page 41 and 42: Table 7.2 Seventh Plan Outlay and S
Page 43 and 44: Figure 7.2 Figure 7.3 Capital Expen
Page 45 and 46: Economic Outlook economic sector wi
Page 47 and 48: Economic Outlook recurrent expendit
Page 49 and 50: Financing GapFinancing Gap Table 7.
Page 51 and 52: Fiscal and Monetary Policy Table 8.
Page 53: Fiscal and Monetary Policy Strategy
Page 57 and 58: Fiscal and Monetary Policy TABLE 8.
Page 59 and 60: I. IntroductionI. Introduction CHAP
Page 61 and 62: Aid Policy 9.9 Sectoral Allocation
Page 63 and 64: Aid Policy 9.20 Sector Ministries,
Page 65 and 66: Aid Policy Aid and the Private Sect
Page 67 and 68: Culture and Religion Dratshangs and
Page 69 and 70: Culture and Religion and documented
Page 71 and 72: Culture and Religion V. Financial a
Page 73 and 74: Education Table 11.1 Educational In
Page 75 and 76: Education Higher EducationHigher Ed
Page 77 and 78: Education 11.24 In 1986, the enrolm
Page 79 and 80: Education Table 11.3 Enrolment Targ
Page 81 and 82: Education particularly of the natio
Page 83 and 84: Education writing and numeracy and
Page 85 and 86: CHAPTER 12 Human Resource Developme
Page 87 and 88: of Bhutan + Corporation Planning Co
Page 89 and 90: Joint and Public Sector IndustriesJ
Page 91 and 92: Table 12.5 Sectoral Training Funded
Page 93 and 94: Human Resource Development IV. Manp
Page 95 and 96: CHAPTER 13 HEALTH SERVICESHEALTH SE
Page 97 and 98: Table 13.2 Health Institutions July
Page 99 and 100: A. Objectives and Strategies in the
Page 101 and 102: Table 13.5 Goals for Children and W
Page 103 and 104: Health Services IV. Health Sector P
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Mother and Child Health (MCH)Mother
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TOTALS FOR Health 1992/93 1993/94 1
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Human Settlements Chhukha. Certifie
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Human Settlements Lack of Skilled M
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Human Settlements only a fraction -
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Human Settlements awareness of the
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CHAPTER 15 TRANSPORT SECTORTRANSPOR
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Table 15.2 Passenger Carriage by Dr
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Civil AviationCivil Aviation Transp
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Transport Sector 15.25 In the 7FYP,
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Transport Sector target for formati
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Transport Sector 11
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CHAPTER 16 COMMUNICATIONS SECTORCOM
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Table 16.1 Telephone Facilities 199
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A. Objectives for the 7FYPA. Object
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Communications Sector Dzongkhags -D
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TOTALS FOR Department of Post, Tele
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Renewable Natural Resources Table 1
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Renewable Natural Resources earning
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Renewable Natural Resources 17.27 T
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Renewable Natural Resources Table 1
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Renewable Natural Resources coopera
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Renewable Natural Resources Institu
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Renewable Natural Resources 17.67 A
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Renewable Natural Resources Wildlif
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Renewable Natural Resources TOTALS
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Chapter 18 MANUFACTURING AND TRADEM
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18.8 (see Chapter 19 on Mineral Dev
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Input supplyInput supply Manufactur
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Manufacturing and Trade Polythene P
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Manufacturing and Trade Formulation
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Manufacturing and Trade V. Financia
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Mineral Development Coal mining and
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Mineral Development Table 19.2 Esti
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Mineral Development be purchased: 3
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CHAPTER 20 ENERGY SECTORENERGY SECT
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Exports and ImportsExports and Impo
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Energy Sector 20.21 Most of the rur
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shortages. Energy Sector 20.34 Alte
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Energy Sector items will include pu
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COUNTRY BACKGROUND - Gross National Happiness Commission

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