Description:
"Myanmar’s economy is navigating significant uncertainty and risks at home and abroad. A year after violent
upheaval in Rakhine State led to the forced displacement of over seven hundred thousand refugees1
to
Bangladesh, limited progress has been made in resolving fundamental issues relating to rights, repatriation and
recovery. Global economic and trade prospects have also become more uncertain. Myanmar’s economic growth
is expected to slow from 6.8 percent in 2017/18 to 6.2 percent in 2018/19, which is still robust by regional and
global standards. Macroeconomic volatility has intensified since the May 2018 Myanmar Economic Monitor,
with inflation breaching two-year highs in August 2018, and the kyat depreciating by 18 percent against the U.S.
dollar since April. Growth is projected to recover to 6.6 percent by 2020/21, helped by recent policy changes
such as the adoption of the Myanmar Sustainable Development Plan, liberalization of wholesale and retail trade,
implementation of the Myanmar Companies Law and large investments in infrastructure projects including
those related to the Belt and Road Initiative. Risks to the outlook are tilted to the downside due to the possibility
of a global slowdown in trade, domestic macroeconomic imbalances, and the loss of trade-related preferences
to the European Union..."
Source/publisher:
World Bank
Date of Publication:
2018-12-00
Date of entry:
2019-07-10
Grouping:
- Individual Documents
Category:
Countries:
Myanmar
Language:
English
Local URL:
Format:
pdf
Size:
2.87 MB
Resource Type:
text
Text quality:
- Good