Economic Models

The Ministry of Finance employs a range of macroeconomic models to support data-driven fiscal policymaking and macroeconomic management in Bhutan.

Click a model to explore its documentation.

Kilkhor

Computable General Equilibrium

Dynamic CGE model calibrated to Bhutan's 2017 Social Accounting Matrix covering 33 industries, trade flows and labour markets.

View Model

Druk Dungkar

Overlapping Generations Model

A 55-generation OLG model that captures lifecycle behavior, fiscal policy dynamics and external sector constraints for Bhutan's economy.

View Model

IS-LM-AD-AS-BP

Goods, Money & External Sector

Integrated framework analysing goods market, money market and balance of payments for Bhutan's open economy.

Coming Soon

Peljor Nengsung

Macro Simulation

An Economic Early Warning System (EEWS) is modeled to analyze macroeconomic conditions and identify emerging risks from structural and policy developments, enabling timely interventions.

Coming Soon

SFC

Stock-Flow Consistent

Stock-flow consistent model capturing sectoral balance sheet dynamics and financial flows in Bhutan's economy.

Coming Soon

MEF

Medium-term macroeconomic framework

Medium-term macroeconomic framework for GDP and fiscal revenue projections integrating sectoral output equations with Bhutan's national accounts.

Coming Soon

MMF

Monthly Macroeconomic Framework

A framework for tracking key economic indicators monthly to support timely, data-driven fiscal and macroeconomic decisions.

Coming Soon

Contact / Further Information For technical queries regarding this model, please contact the Department of Macro-Fiscal and Development Finance, Ministry of Finance, Royal Government of Bhutan. mfpd@mof.gov.bt