Finance Minister Presents the 13th Five Year Plan (FYP)
The Finance Minister, Lyonpo Lekey Dorji, presented the 13th Five Year Plan (FYP) to the National Assembly today. Presenting the plan the Finance Minister said that, drawing inspiration from His Majesty the King’s guidance through the years, the 13th FYP represents a strategic shift in implementing GNH to meet the nation’s evolving needs in an increasingly globalized 21st century. With the long-term goal to become a High Income GNH Economy by 2034, the focus is on transforming the Bhutanese economy by emphasizing the interconnected pillars of people, progress and prosperity, or the “3Ps”.
The Finance Minister informed that the comprehensive framework of the 13th FYP meticulously crafted through extensive consultations with stakeholders, outlines a strategic roadmap for the country's development over the next five years.
Key highlights of the 13th FYP include a strong emphasis on economic development, social progress, enhanced security, and transformed governance. With a focus on boosting productivity, diversifying products and markets, and fostering collaboration between central agencies and local governments, the plan sets ambitious targets to drive inclusive growth and ensure fiscal prudence.
Furthermore, the plan underscores the importance of leveraging technology, engaging with non-government entities, and promoting private sector participation to achieve its objectives effectively. By aligning resources with plan objectives, enhancing performance management, and fostering accountability, Bhutan aims to navigate challenges and seize opportunities for sustainable development.
