1 TRANSLATION OF THE PROCEEDINGS AND ... - APFA News

ate is 4.5%, and the balance of payments continues to be positive. All
indicators show that while the Bhutanese economy is sustainable, equitable and
balanced, it is also transforming from an agrarian to a modern one.
Review of the 8 th Plan and Preparations for the 9 th Plan
Inspite of the existence of security problems, His Majesty has commanded that
the 8 th plan be concluded successfully for the benefit of the people. The
Chairman reported that the final year of the 8 th plan has been reached without
any disruption of development works. The expenditure for the plan period has
exceeded beyond the initial estimated budget of Nu.30,000 million to Nu.40,000
million. But the domestic revenue has been able to meet the current expenditure.
The 8 th Plan mid-term review meetings in all the twenty Dzongkhags, which
began last year in Trongsa concluded recently in Gasa. His Majesty the King
and His Royal Highness Dasho Jigme Khesar Namgyel Wangchuck graced
most of these review meetings. In accordance with the policy of devolution of
responsibilities, the Chairman reported that he had the privilege of chairing
these meetings. The meetings provided a great opportunity for the Government
officials, members of the DYT and GYT, community and business
representatives to meet and exchange views directly like members of one
family. The meetings revealed a satisfactory level of progress in terms of
physical implementation of development activities and financial expenditure.
According to financial reports submitted by the twenty Dzongkhags in these
meetings, the level of financial expenditure ranged from 40 to100 percent. On
average, the achievements of the Dzongkhags in the first three and half years of
the 8 th plan were 66%. The Dzongkhags expressed their confidence in
implementing the remaining development activities before the conclusion of the
8 th plan.
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