In an interview with CNBC, Tobgay suggested that the country’s approach to GNH is evolving. While acknowledging the importance of economic growth, he emphasized the need for balance and sustainability. “Yes, because we’ve got to grow our economy,” Tobgay told CNBC. However, he also cautioned against unchecked growth, saying, “We can grow, and we can grow in a manner that is balanced.” According to Tobgay… Bhutan’s economy has been stagnant due to its cautious and conservative approach.
He acknowledged the country’s economic failures, stating, “We have failed economically.” Despite this, Tobgay emphasized the government’s commitment to strengthening the economy in a way that is environmentally, culturally, “and socially sustainable.” As reported byCNBC, “Tobgay aims to find a balance between economic growth and GNH.”.. and the government is working towards sustainable and equitable economic development.
Source: Found here
In The News:
Bhutan’s governing philosophy of ⁘Gross National Happiness⁘ has been heralded the world over for balancing economic growth with the well-being of its citizens.
But recent discussions of ⁘ GrossNational Happiness 2.0 ⁘ by its newly elected Prime Minister Tshering Tobgay suggest that change on some level is underway as the country struggles with an economic crisis that’s left it — as Tobgay has said— ⁘ teetering on the brink of collapse .⁘
GNH, as it’s known, has been the guiding principle of Bhutan since it was introduced by the former king Jigme Singye Wangchuck in the early 1970s.
⁘Yes and no,⁘ Tobgay toldCNBC in an interview on May 10. ⁘Yes, because we’ve got to grow our economy.⁘
⁘Should we throw caution to the wind? No. We can grow, and we can grow in a manner that is balanced.⁘
Bhutan will continue to strengthen its economy in ways that are sustainable, equitable and ⁘balanced with social progress, environmental protection, cultural protection and good governance,⁘ he said.
⁘We’ve been extremely cautious, very conservative, so we have lagged,⁘ he said. ⁘We have failed economically.⁘
