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Bhutan

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Country summary

Capital

Thimphu

Borders

China 470 km, India 605 km

Government type

constitutional monarchy

Population

691,141[1]

Population growth

1.267% (2010 est.)[1]

Life expectancy

66.13 years[1]

Unemployment

4% (2009)[1]

Index of Economic Freedom

103[2]

Corruption Perceptions Index

49[3]

Doing Business ranking

126[4]


In 1865, Britain and Bhutan signed the Treaty of Sinchulu, under which Bhutan would receive an annual subsidy in exchange for ceding some border land to British India. Under British influence, a monarchy was set up in 1907; three years later, a treaty was signed whereby the British agreed not to interfere in Bhutanese internal affairs and Bhutan allowed Britain to direct its foreign affairs. This role was assumed by independent India after 1947. Two years later, a formal Indo-Bhutanese accord returned the areas of Bhutan annexed by the British, formalized the annual subsidies the country received, and defined India's responsibilities in defense and foreign relations. A refugee issue of over 100,000 Bhutanese in Nepal remains unresolved; 90% of the refugees are housed in seven United Nations Office of the High Commissioner for Refugees (UNHCR) camps. In March 2005, King Jigme Singye WANGCHUCK unveiled the government's draft constitution - which would introduce major democratic reforms - and pledged to hold a national referendum for its approval. In December 2006, the King abdicated the throne to his son, Jigme Khesar Namgyel WANGCHUCK, in order to give him experience as head of state before the democratic transition. In early 2007, India and Bhutan renegotiated their treaty to allow Bhutan greater autonomy in conducting its foreign policy, although Thimphu continues to coordinate policy decisions in this area with New Delhi. In July 2007, seven ministers of Bhutan's ten-member cabinet resigned to join the political process, and the cabinet acted as a caretaker regime until democratic elections for seats to the country's first parliament were completed in March 2008. The king ratified the country's first constitution in July 2008.[1]

Economical characteristicsEdit

  • Currency: Ngultrum (ISO code: BTN)
  • Central bank discount rate: NA%[1]
  • Commercial banks lending rate: NA% (31 December 2008)[1]
  • Stock of money (M1): $NA (31 December 2008)[1]
  • Quasi money (with M1 makes M2): $NA (31 December 2008)[1]


StatisticsEdit

Statistic / Year 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008
GDP (million USD)[5] 397 428 456 514 614 692 769 883 1 153 1 283
Govt. debt (% of GDP)[6] 36.328 40.164 73.123 59.678 71.427 77.657
Govt. revenue (% of GDP)[7] 20.903 23.479 22.785 20.453 17.009 16.219
Govt. expenses (% of GDP)[8] 19.112 19.695 21.101 19.576 19.256 17.532
Debt to revenue (years) 1.738 1.711 3.209 2.918 4.199 4.788

ReferencesEdit

Note: statistical data was rounded. Different sources may use different methodologies for their estimates. Debt to revenue is calculated by dividing the two variables from their original ('unrounded') values. It represents how long it would a government take to repay its entire debt if it used its whole revenue for this purpose.

  1. 1.0 1.1 1.2 1.3 1.4 1.5 1.6 1.7 1.8 CIA - The World Facebook. "Bhutan", from The World Facebook. Referenced 2010-09-30.
  2. Heritage Foundation. "Bhutan", Economic Freedom Score. A lower ranking is better; but please be careful when comparing between different countries or years. Referenced 2010-09-30.
  3. Transparency International. "Bhutan", Corruption Perceptions Index 2009. A lower ranking is better; but please note that the numbers cannot be compared between countries or years due to different methodology. Referenced 2010-09-30.
  4. Doing Business. "Bhutan", Doing Business 2010 (part of The World Bank Group). A lower ranking is better; but please be careful when comparing between different countries or years. Referenced 2010-09-30.
  5. World Bank. "Bhutan: GDP", from World Bank Data. Referenced 2010-09-30.
  6. World Bank. "Bhutan: government debt", from World Bank Data. Referenced 2010-09-30.
  7. World Bank. "Bhutan: government revenue", from World Bank Data. Referenced 2010-09-30.
  8. World Bank. "Bhutan: government expenses", from World Bank Data. Referenced 2010-09-30.

External linksEdit

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