ADB sees 8.4% growth and falling inflation

The streets of downtown Yangon overlooking City Hall and Sule Pagoda

(Source: Myanmar Times, 31 Mar 2016) The Asian Development Bank (ADB) estimates Myanmar’s economy growth fell to 7.2% in 2015, hit by the impact of widespread flooding and slower economic growth in China. However, it expects Myanmar’s economy to grow at 8.4% in 2016 and 8.3% in 2017, as the garments and tourism sectors perform well and agriculture rebounds. Moreover, the ADB had projected inflation for the 2015-16 fiscal year to clear 12%, based on rising agricultural prices and a falling kyat. It expects the inflation to fall for three successive years to 9.5% in 2016-17 and 8.5% in 2017-18.  (more…)

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