The economy is bad, but all hope is not lost, according to Finance Minister Namgay Tshering
The economy is bad, but all hope is not lost, according to Finance Minister Namgay Tshering.
“We are experiencing an economic slowdown, but it (economy) has not crashed. If our economy collapsed, there would be no hope,” Lyonpo said. “This is the time when we need to give hope to our private sectors. Hope to the people and help build their confidence that we still have adequate energy and power to rescue our economy.”
Amidst speculations that the government would start austerity measures with salary cuts and laying off of people, the government, the finance minister said, would be triggering an economic deflation.
The minister said that drastic measures, if at all needs to be taken, have to be taken only to explore every possible opportunity on a positive note. “Drastic measures don’t necessarily mean laying off employees or cutting down on their allowances and salaries.”