Is Bhutan a developed country?

Bhutan is considered one of the least developed country in Asia. However, it is considered to be the fastest growing country with an 8.4% growth rate in 2017. As per the Asian development bank, Bhutan is the fastest growing economy in the developing Asian region and the outlook is for continued, strong and stable growth. The country is likely to experience a similar growth rate projection for the next two upcoming years.

Source:Tradingeconomics.com| RMA

Bhutan is ranked as the 3^rd fastest growing economy in 2017 as per World Bank. The factors behind the highest growth rate are said to be mainly because of the completion of three mega hydropower projects (punatsangchu -1, punatsangchu -2 and mangdechu)