Myanmar Economic Monitor, October 2017 : Capitalizing on Investment Opportunities
Myanmar’s macroeconomic environment remains stable, though economic growth is estimated to have slowed to 5.9 percent in 2016-17 compared to 7 percent in 2015-16, weighed down by slower investment demand. Growth is projected to recover to 6.4 perce...
| Main Author: | |
|---|---|
| Format: | Report |
| Language: | English |
| Published: |
World Bank, Washington, DC
2018
|
| Subjects: | |
| Online Access: | http://documents.worldbank.org/curated/en/990961516000408411/Capitalizing-on-investment-opportunities http://hdl.handle.net/10986/29206 |
| id |
okr-10986-29206 |
|---|---|
| recordtype |
oai_dc |
| spelling |
okr-10986-292062021-05-25T09:09:59Z Myanmar Economic Monitor, October 2017 : Capitalizing on Investment Opportunities World Bank Group ECONOMIC GROWTH FOREIGN TRADE MONETARY POLICY FISCAL TRENDS ECONOMIC OUTLOOK REGIONAL INTEGRATION JOB CREATION STATE-OWNED ENTERPRISES Myanmar’s macroeconomic environment remains stable, though economic growth is estimated to have slowed to 5.9 percent in 2016-17 compared to 7 percent in 2015-16, weighed down by slower investment demand. Growth is projected to recover to 6.4 percent in 2017-18, though risks are tilted to the downside due to the recent escalation of tensions in Rakhine State and the potential stalling of the overall reform agenda. Baseline projections assume that the authorities will move to a medium-term economic reform program to sustain hard earned macroeconomic stability gains and accelerate inclusive growth. Accelerating much needed investments in the economy will also require progress on structural reforms in, among other areas, finance, energy, and business regulations. On access to finance, implementation of the recently adopted prudential regulations under the Financial Institutions Law are expected to support financial sector stability and to manage risks. The banking community however has sought more time to comply with the new regulations because current deadlines might put pressure on the financial system. Progress on reform of State Owned Banks is expected over the coming months starting with international audits. At the same time, steps to develop a secured transaction framework and credit bureau licensing should help to improve access to finance and credit quality. On access to electricity, priorities include finalizing the power sector master plan and associated decisions on dealing with gas supply shortages, electricity tariff adjustments with protection for vulnerable groups, and institutional reforms (e.g. establishment of regulatory agency). On business regulations, priorities include implementation of the 2016 investment law, adoption of the companies act, and aligning customs procedures in valuation of goods with international practices. 2018-01-22T18:00:15Z 2018-01-22T18:00:15Z 2017-10 Report http://documents.worldbank.org/curated/en/990961516000408411/Capitalizing-on-investment-opportunities http://hdl.handle.net/10986/29206 English CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank, Washington, DC Economic & Sector Work :: Economic Updates and Modeling Economic & Sector Work East Asia and Pacific Myanmar |
| repository_type |
Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English |
| topic |
ECONOMIC GROWTH FOREIGN TRADE MONETARY POLICY FISCAL TRENDS ECONOMIC OUTLOOK REGIONAL INTEGRATION JOB CREATION STATE-OWNED ENTERPRISES |
| spellingShingle |
ECONOMIC GROWTH FOREIGN TRADE MONETARY POLICY FISCAL TRENDS ECONOMIC OUTLOOK REGIONAL INTEGRATION JOB CREATION STATE-OWNED ENTERPRISES World Bank Group Myanmar Economic Monitor, October 2017 : Capitalizing on Investment Opportunities |
| geographic_facet |
East Asia and Pacific Myanmar |
| description |
Myanmar’s macroeconomic environment
remains stable, though economic growth is estimated to have
slowed to 5.9 percent in 2016-17 compared to 7 percent in
2015-16, weighed down by slower investment demand. Growth is
projected to recover to 6.4 percent in 2017-18, though risks
are tilted to the downside due to the recent escalation of
tensions in Rakhine State and the potential stalling of the
overall reform agenda. Baseline projections assume that the
authorities will move to a medium-term economic reform
program to sustain hard earned macroeconomic stability gains
and accelerate inclusive growth. Accelerating much needed
investments in the economy will also require progress on
structural reforms in, among other areas, finance, energy,
and business regulations. On access to finance,
implementation of the recently adopted prudential
regulations under the Financial Institutions Law are
expected to support financial sector stability and to manage
risks. The banking community however has sought more time to
comply with the new regulations because current deadlines
might put pressure on the financial system. Progress on
reform of State Owned Banks is expected over the coming
months starting with international audits. At the same time,
steps to develop a secured transaction framework and credit
bureau licensing should help to improve access to finance
and credit quality. On access to electricity, priorities
include finalizing the power sector master plan and
associated decisions on dealing with gas supply shortages,
electricity tariff adjustments with protection for
vulnerable groups, and institutional reforms (e.g.
establishment of regulatory agency). On business
regulations, priorities include implementation of the 2016
investment law, adoption of the companies act, and aligning
customs procedures in valuation of goods with international practices. |
| format |
Report |
| author |
World Bank Group |
| author_facet |
World Bank Group |
| author_sort |
World Bank Group |
| title |
Myanmar Economic Monitor, October 2017 : Capitalizing on Investment Opportunities |
| title_short |
Myanmar Economic Monitor, October 2017 : Capitalizing on Investment Opportunities |
| title_full |
Myanmar Economic Monitor, October 2017 : Capitalizing on Investment Opportunities |
| title_fullStr |
Myanmar Economic Monitor, October 2017 : Capitalizing on Investment Opportunities |
| title_full_unstemmed |
Myanmar Economic Monitor, October 2017 : Capitalizing on Investment Opportunities |
| title_sort |
myanmar economic monitor, october 2017 : capitalizing on investment opportunities |
| publisher |
World Bank, Washington, DC |
| publishDate |
2018 |
| url |
http://documents.worldbank.org/curated/en/990961516000408411/Capitalizing-on-investment-opportunities http://hdl.handle.net/10986/29206 |
| _version_ |
1764468764323086336 |