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‘Recession affected Bhutan economy’ (Economy)

Published on Jan 24 2009 // Main News
New Delhi, January 24: A government minister has accepted that Bhutan has finally hit by the global economic recession. Earlier, the government had predicted Bhutan’s economy will not be affected because is it small and has not big business with other countries. 
Minister of Economic Affairs Khandu Wangchuk addressing the 15th Partnership Summit 2009 at Delhi said Bhutan was also feeling the impact of the crisis specially in tourism sector.
Despite downturn of economic growth, Wangchuk claimed balance between material, spiritual and emotional will lead nation to prosperity, and added the Gross National Happiness (GNH) will curb the falling economy in Bhutan.
He expressed hope that enormous source of resources and manpower in Asia, co-operative efforts towards ensuring greater regional economic integration would help Asia combat external shocks and instability to a larger extent. Bhutan News Service
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