IMF predicts only 0.5% growth in FY 2020/21
The International Monetary Fund has revised its growth forecast to a scant 0.5% for the fiscal year. This is down from an estimated 3.2% growth for the previous fiscal year, which itself was only around half of pre-pandemic expectations. “While
Economy will continue to suffer, says World Bank
The 2020-2021 fiscal year is off to a poor start, with rising poverty rates and growth estimated to be under 2%, according to the World Bank’s “Myanmar Economic Monitor.” Likewise, the poverty rate could reach 27% this fiscal year (
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
