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