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...

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Main Author: World Bank Group
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
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