Fiscal year in review: GDP tanked, FDI held

A tumultuous 2019-2020 fiscal year has finally come to a close. The COVID-19 pandemic wreaked havoc on Myanmar’s economic growth, with most estimations dropping below 2% from last year’s 6.8% growth. (The Asian Development Bank, for examp

Government expects economy to rebound next fiscal year

Although most forecasts have predicted almost no growth this fiscal year, the Ministry of Planning, Finance and Industry expects the economy to rebound to near pre-pandemic levels. On July 13, U Set Aung, deputy minister of the Ministry of Planning,

Myanmar economy may expand as high as 7.1%

Myanmar’s economy has been growing and will continue to grow, says a report by the ASEAN+3 Macroeconomic Research Office (AMRO). The economy expanded by 6.8 percent in the 2018-2019 fiscal year, the report said, up from 6.5 percent in the previ

Low growth expected for foreign direct investment

Myanmar is unlikely to see a large increase in foreign investment this year, if any. The Myanmar Investment Commission (MIC) has predicted only USD 5.8 billion of foreign direct investment (FDI) for the 2019-2020 fiscal year, which began on October 1
IMF and the World Bank slashes growth forecasts

IMF and the World Bank revise growth forecasts for Myanmar

The International Monetary Fund (IMF) and the World Bank have both cut their GDP growth estimates for Myanmar in 2018-19. This highlights further indications of a lack of confidence in the country’s economy. In a statement, the IMF revised its grow