Asian Development Bank ( ADB) sees 8.4 growth and falling inflation for Myanmar
Rising economic growth and three successsive years of falling inflation were among the highlights from the ADB's 2016 predictions for Myanmar.According to Peter Brimble ,the ADB's country specialist for Myanmar ,the economy of Myanmar will manage 8.4 percent growth in this fiscal year ,as the garments and tourism sectors perform well and agriculture rebounds. The ADB expects growth to slow only slightly to 8.3 percent in 2017.
The ADB had projected inflation for the 2015-16 fiscal year to clear 12 percent..Mr.Brimble said,"there was a noticeable drop in mothly inflation figures in January and February . He also added that we are seeing something relatively positive such as the stable Kyat ( Myanmar currency) and decrease in the prices of agricultural products. The ADB now projects three successive years of falling inflation, which it expects to drop 9.5 percent this coming fiscal year and then to 8.5 percent in 2017.The ADB expects the current account deflict to improve from 8.9 percent of GDP in 2015 to 8.3 percent this year and then to 7.7 percent in 2017.
1April 2016