President Predicts Myanmar’s Economic Growth to be Over 7 Percent Next Year
President Predicts Myanmar’s Economic Growth to be Over 7 Percent Next Year
Myanmar Business Today, 23 Jul 2018
URL: https://www.mmbiztoday.com/articles/president-predicts-myanmar-s-economic-growth-be-over-7-percent-next-year
President U Win Myint said at the National Planning Commission meeting, that Myanmar GDP growth is expected to be 7.6 percent in 2018-2019 Fiscal Year because of increased foreign investment inflow, improved mid-term loan to businesses and strong potential of SMEs’ growth.
Reviewing 2017-2018 Fiscal Year, increased export of agricultural products, more foreign investment flowed into manufacturing sector and improved transportation and tourism, telecommunication and financial service made GDP grow to 6.5 percent.
“Since the six month transitional fiscal year and the rainy season, there will be limitation in crops and grains milling in manufacturing as well as in construction sector. But the government expects GDP growth to be 7.2 percent in this six month fiscal years,” Daw Aung San Su Kyi said at National Planning Commission meeting in January.
Myanmar’s economic growth is 5.9 percent in 2016-2017 and 6.4 percent in 2017-2018 fiscal year and it will increase to 6.8 percent in 2018-2019 fiscal year, World Bank Group estimated.
Reviewing 2017-2018 Fiscal Year, increased export of agricultural products, more foreign investment flowed into manufacturing sector and improved transportation and tourism, telecommunication and financial service made GDP grow to 6.5 percent.
“Since the six month transitional fiscal year and the rainy season, there will be limitation in crops and grains milling in manufacturing as well as in construction sector. But the government expects GDP growth to be 7.2 percent in this six month fiscal years,” Daw Aung San Su Kyi said at National Planning Commission meeting in January.
Myanmar’s economic growth is 5.9 percent in 2016-2017 and 6.4 percent in 2017-2018 fiscal year and it will increase to 6.8 percent in 2018-2019 fiscal year, World Bank Group estimated.