"...?The government has made rapid strides over the last two years. The exchange rate regime has been changed from a peg to a managed float. The financial sector is being gradually modernized, starting with partial deposit rate liberalization and the relaxing of some restrictions on private banks. This year?s fiscal budget was debated in Parliament for the first time, yielding increased spending in critical areas such as health, education, and infrastructure. Laws to support the development goals of the government have been passed, including on land reforms, microfinance, and foreign investment. Discussions on clearing Myanmar?s external arrears are also progressing. ?These reforms are already bearing fruit. Growth is expected to accelerate to around 6? percent in FY2012/13, bolstered by foreign investment in natural resources and exports of commodities. Inflation has declined rapidly and should remain moderate at around 6 percent next year. Meanwhile, the exchange rate has been stable in recent months, with international reserves increasing to US$4 billion. ?Nevertheless, the government recognizes there is still a long way to go. Myanmar remains one of the poorest countries in Asia, with economic development stymied by many distortions..."