The ceremony forissuing World Banks’s Myanmar Economic Monitor was held at UMFCCI in 18th May 2018. The Myanmar Economic Monitor (MEM) is the report published twice a year by World Bank and it is based on latest economic information of Myanmar. The report is well gathered about the information on the recent economic development and predictions for the potential of economic development and policy issues. Present at the ceremony included U Zaw Min Win, chairman of UMFCCI, Ms.Ellen Goldstein, Country Director of World Bank, Dr. U Myint, Lead Economist and the presenter Mr. Hans Amand Beck, Lead Country Economists.
The report indicates a favorable outlook with growth expected to increase to 6.7 percent in 2018/19 and inflation which moderated to 5.5 percent in 2017/18 from 7 percent in 2016/17 and expected to ease further to 4.9 percent in 2018/19. An increase in export has resulted in a decrease in trade deficit and accelerates FDI inflow. For the development of economic potential, Myanmar Government is urged to implement MSDP (Myanmar Sustainable Development Plan) and Fiscal Strategy, tax exemption and proper inspection on the implementation plan, to monitor continuously on the changes relating with Doing Business, liberalise some strict regulations and to attract the Foreign Direct Investments.

Source: UMFCCI

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