Myanmar Economic Monitor, December 2018 : Navigating Risks
Myanmar's economy is navigating significant uncertainty and risks at home and abroad. A year after violent upheaval in Rakhine State led to the forced displacement of over seven hundred thousand refugees to Bangladesh, limited progress has bee...
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| Format: | Report |
| Language: | English |
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World Bank, Washington, DC
2018
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| Online Access: | http://documents.worldbank.org/curated/en/986461544542633353/Myanmar-Economic-Monitor-Navigating-Risks http://hdl.handle.net/10986/31031 |
| Summary: | Myanmar's economy is navigating
significant uncertainty and risks at home and abroad. A year
after violent upheaval in Rakhine State led to the forced
displacement of over seven hundred thousand refugees to
Bangladesh, limited progress has been made in resolving
fundamental issues relating to rights, repatriation and
recovery. Global economic and trade prospects have also
become more uncertain. Myanmar's economic growth is
expected to slow from 6.8 percent in 2017/18 to 6.2 percent
in 2018/19, which is still robust by regional and global
standards. Macroeconomic volatility has intensified since
the May 2018 Myanmar Economic Monitor, with inflation
breaching two-year highs in August 2018, and the kyat
depreciating by 18 percent against the U.S. dollar since
April. Growth is projected to recover to 6.6 percent by
2020/21, helped by recent policy changes such as the
adoption of the Myanmar Sustainable Development Plan,
liberalization of wholesale and retail trade, implementation
of the Myanmar Companies Law and large investments in
infrastructure projects including those related to the Belt
and Road Initiative. Risks to the outlook are tilted to the
downside due to the possibility of a global slowdown in
trade, domestic macroeconomic imbalances, and the loss of
trade-related preferences to the European Union. |
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