Myanmar Gas Exports Seen Rising on Ramping Up of New China Pipeline

Myanmar’s earnings from natural gas exports fell in the last fiscal year as more of the resource was consumed domestically but shipments of greater volumes to China as a new pipeline comes up to speed are expected to boost earnings this year. Myanmar earned $3.299 billion from the export of gas during the 2013-14 (April/March) […]

Growth prediction raised by IMF on gas, investment

Rising gas production and investment will lead to a higher-than-expected 8.5 percent economic growth rate for the 2014-15 year, according to the International Monetary Fund (IMF). The IMF had predicted 7.7pc GDP growth for the year in January. The economy will continue to be driven by both domestic and foreign investment, said Matt Davies, head […]

Myanmar Economy Can Grow 8.5 Percent This Year: IMF

YANGON — Myanmar’s economy should grow 8.5 percent during the current fiscal year, higher than earlier forecast thanks mainly to rising gas production and investment, the International Monetary Fund said on Tuesday. In January, the IMF predicted that Myanmar would have 7.7 percent growth during the fiscal year that ends March 2015. The fund left […]

Rising rice yields seen as golden opportunity

Myanmar can more than double rice exports by improving farm productivity, cutting export costs, and opening milling sector to FDI Once the world’s top rice exporter, Myanmar has a chance to rejuvenate its glory days if its export strategy is reviewed, the World Bank said. The country’s rice exports could more than double if production […]

Exchange rate fluctuation smooth as USD falters

Moderate depreciation of the US dollar against Asian currencies over the past three months has resulted in marked improvements for the kyat, which has appreciated as much as 2.42 percent against the greenback since mid-February. According to official exchange rates in Yangon, the value of the kyat against the dollar has grown from K988 on […]