The Royal Monetary Authority of Bhutan has published its Annual Report for FY 2024/25, setting out an overview of Bhutan’s macroeconomic conditions and financial sector developments covering July 2024 to June 2025, alongside the medium-term outlook, key policy responses and emerging risks. The report reviews developments in the economy, inflation, external sector, monetary and domestic credit conditions, government finance and the labour market. This year’s edition adds a new chapter on Capital Market Development, and includes sections on monetary policy operations and liquidity management, financial sector development, the Authority’s financial statements and an extensive statistical appendix, drawing on national datasets and regional and global central-bank references.