Cen­tral bank trans­fers’ an­nual sur­plus of 1,550M to the govt

Bhutan Times - - Home - Staff Re­porter

The Royal Mone­tary Au­thor­ity of Bhutan suc­cess­fully closed its ac­counts for the fi­nan­cial year 2017- 18 and sub­mit­ted its an­nual sur­plus to the gov­ern­ment last Wed­nes­day.

The cheque for the net sur­plus of Nu. 1, 550.24 mil­lion was handed over by the Gover­nor of cen­tral bank Dasho Pen­jor to the Min­istry of Fi­nance in the pres­ence of the ad­vi­sor of the in­terim gov­ern­ment in the min­istry of Fi­nance, Dasho Karma Ura.

As com­pared to the net sur­plus trans­fer for fi­nan­cial year 2016 - 17 of Nu. 1,001 mil­lion, the net sur­plus for fi­nan­cial year 2017 - 2018 has been the high­est so far and re­flects to some ex­tent bet­ter re­serve man­age­ment, with net in­ter­est in­come from in­vest­ment con­tribut­ing Nu. 249.81 mil­lion to the in­crease in the sur­plus. Gross in­ter­na­tional re­serves re­main at a lit­tle over USD 1 bil­lion. These de­vel­op­ments re­flect the sound­ness of the econ­omy and ef­fi­cient man­age­ment of re­serves by the cen­tral bank.

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