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Myanmar economy to grow by 6.6% in 2020: world bank

The Myanmar economy is projected to grow by 6.6 percent in 2020, according to the World Bank, a tad higher than its 6.5pc projection for this year. Economic growth is expected to further increase to 6.7pc in 2021 and 6.8pc in 2022. According to the annual World Bank East Asia and Pacific Economic Update, growth […]

Myanmar on track for economic growth, says ADB

The Asian Development Bank (ADB) has released its report on economic outlook of the region, including Myanmar, for this year. The Asian Development Outlook 2019 Update report, released on Wednesday in Manila, provides analysis of macroeconomic issues in developing Asia, including new growth forecasts by country and region for 2019 and for 2020. In the […]

Can Myanmar’s economy fulfil its potential?

<ahref=”https://youtu.be/pCvYiQYDHcE” target=”_blank”> With gross domestic product (GDP) growth consistently above 5 percent throughout this decade, and in double digits for much of the previous decade, Myanmar has been one of South East Asia’s fastest-growing economies for quite some time. What’s more, this newly liberalised nation is being touted to likely continue growing expeditiously well into […]

Inflation higher than expected in first half of 2018-19

Inflation in the first six months of the current fiscal year of 2018-19 exceeded the government’s forecast by 2.7 percent, U Maung Maung Win, deputy minister of the Ministry of Planning and Finance, said at the Pyidaungsu Hluttaw meeting held yesterday. Inflation averaged 7.3 percent during the six month period ending in March compared to […]

Myanmar needs to accelerate economic reforms to sustain growth: ADB

Presenting an optimistic growth outlook for the current fiscal and the coming years, ADB urges government of Myanmar to continue focusing on economic reforms, particularly in the areas of public finance management, legal and regulatory frameworks and governance and accountability. Pointing out the need for prudent use of scarce resources for infrastructure and skill development […]

The emergence of Suukyinomics

State Counsellor Aung San Suu Kyi’s National League for Democracy (NLD) administration in Myanmar has been heavily condemned by international policy analysts for its absent economic vision and lack of a tangible policy on minority management. But it seems now there is a plan: Suukyinomics, a brand that began with the announcement on 28–29 January […]

Inflation in Mandalay highest in the country: Ministry

Mandalay Region’s inflation rate, at 11.53 percent, is the highest in the country due to its status as a major trade hub in the country, said U Myat Thu, Regional Minister for Planning and Finance. The region’s inflation rate based on the Consumer Price Index (CPI), which is calculated by the Central Statistical Organisation (CSO) […]

State Counselor Encourages Japanese Investment in Myanmar

Myanmar’s State Counselor Daw Aung San Suu Kyi has invited Japanese investors to seek investment opportunities in Myanmar as she believes that Japan has a deep understanding of the country’s struggle in the Rakhine crisis and peace process. On Monday, in her keynote speech at the Myanmar Investment Conference in Tokyo, Daw Aung San Suu […]

National Planning Law Expects Highest Growth in Telecom, Industrial, Financial Sectors

Amid a slowing economy and complaints from the business community, Myanmar’s parliament has approved a National Planning Law for the 2018-2019 fiscal year which expects to see the highest growth rate in the country’s telecommunications, industrial and financial sectors. On Wednesday, President U Win Myint signed the bill with the approval of the Union Parliament […]

Floods take a toll on domestic economy

Commodity prices have spiked with the flooding of hundreds of thousands of acres of farmland, hitting domestic consumers in the pocketbook. Experts are calling for a coordinated government and private sector response to ensure the spike does not get out of control. U Ko Ko Gyi, a member of the Pyithu Hluttaw from Mandalay Region […]