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Myanmar Development Challenges Galore
Dr B K Mukhopadhyay
To what extent Myanmar’s positive political developments and structural reform programs will help foster economic growth and investment is now a point to see. The advent of new government is likely to provide a short-term boost to GDP, but long-term inclusive economic growth will be more difficult.
ADB [Asian Development Bank] is hopeful that Myanmar’s economic growth will increase by 1.2 percent in the fiscal year 2016-2017. Accordingly, Myanmar’s economic growth will reach 8.4 percent in the fiscal year 2016-2017, up from 7.2 percent in 2015-2016. The inflation will remain high at 9.5 percent for the 2016-2017 but will decrease to 8.5 percent in 2017-2018.
Myanmar has posted robust GDP growth, which is expected to continue, the benefits have accrued to a small proportion of the country, attendees heard. The IMF projects real GDP growth of 8.5 percent for 2015 and 8.4pc for 2016 – up from 7.8pc in 2014. But despite the upturn, real economic improvement was still lacking.
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