Myanmar economy 2013 pdf

A political economy analysis kristian stokke, roman vakulchuk, indra overland report commissioned by the norwegian ministry of foreign affairs. For many decades, myanmar burmas economy has been crippled by its institutional failures and mismanagements. Myanmar implemented a new investment law in april 2017 to consolidate and merge the 2002 foreign investment law and the 20 myanmar citizens investment law which address the playing field of local and. Due to the isolationist policy adopted by the military government led by ne win which continued until 1988, the economic development of myanmar fell far behind other asean countries. By natasha breretonfukui naypyitaw, myanmarmyanmar appears close to attaining a status symbol valued by investors. Macroeconomic trends and developments1 growth performance and key drivers 1. Myanmar joined asean on july 23, 1997, together with laos. The oecd open government report of myanmar was prepared by the oecd in collaboration with the government of the republic of the union of myanmar. Myanmar government prioritizes the development of smes.

Ten critical challenges june 24, 20 priscilla clapp retired ministercounselor, u. Nandar hlaing joined the imf myanmar office in june 20, a founding member of the new office. In 2010, the first elections were held in myanmar after 22 years of direct military rule. Myanmar would benefit from preparing for this change through investment, planning, and a shift to local governance.

This article on chin state was originally printed in the new light of myanmar on february 4th, 2005, as part of a series leading up to and immediately following the celebration of union day on the 12th of february. Implications for myanmar global growth momentum has accelerated in recent months. This is down from a fairly high spike in 2016, expected to converge to a steady state around 6 percent in the. Macroeconomic trends in myanmar myanmar economy watch. The report includes countryspecific threeyear forecasts for major macroeconomic indicators, including commodity and financial markets. Economic planning decision makers need to investigate the connections and tradeoffs between different development pathways and how they interact with the natural capital and ecosystem services that the people of myanmar depend on. However, the outlook is clouded by uncertainty related to chinaas economy and the coronavirus, which will hit exports, manufacturing and tourism. Belt and road initiative have served to strengthen myanmar s economic links with and dependence on china. Today, myanmar is a republic, and president thein sein is the head of state. Dec 11, 2017 to face down these challenges and find its way into the global economy, myanmar will need to build on its strengths, which are considerable. However, after the election of 2011, the sudden change of the political outlook in myanmar invites, if not confusion, more critics than advocates.

Learn more about the burma economy, including the population of burma, gdp, facts, trade, business, inflation and other data and analysis on its economy from the index of economic freedom. Myanmars halting economic steps onto the global stage. The 20 myanmar antimuslim riots were a series of conflicts in various cities throughout central and eastern myanmar burma. A political economy analysis of myanmars transition to 20, with a particular focus on military involvement in the private sector, national entrepreneurs and cronies, and ceasefire capitalism in the border regions. Myanmar government prioritizes the development of smes the myanmar government is making efforts to transform the political, economic and social environment to be in line with global changes, and to promote sustainable economic growth. Smarter regulations for small and mediumsize enterprises assesses regulations affecting domestic firms in 185 economies and ranks the economies in 10 areas of business regulation, such as starting a business, resolving insolvency and trading across borders.

The political economy of myanmars transition online. Pdf myanmar may for a long time remain in a transitional state with an uncertain future. Myanmar can learn from the gradual approaches to economic transition in china and vietnam, where partial reforms weakened further impetus for reforms. Myanmar economic growth economic growth is expected to remain relatively stable this fiscal year, owing to stronger infrastructure investment and greater foreign investment inflows. Framework for economic and social reforms 11420 framework for economic and social reforms policy priorities for 201215 towards the longterm goals of the national comprehensive development plan executive summary overview as recently as 2011, myanmar was still labeled as a pariah state. This includes promoting small and mediumsized enterprises smes, which play a.

Recent manufacturing data in china and trade data in myanmar show some progress. After decades of economic isolation, myanmar has initiated a series of gradual and radical changes of economic reforms aimed at accelerating structural change and economic development. Tough choices 1 overview we must turn to national industrialization to transform the country into a developed, rich one with a lot of em. To make sense of the transition and assess the case for optimism, this article explores the political economy of myanmars dual transition from state socialism to capitalism and from dictatorship to democracy.

Adb operations in myanmar address the strategic areas of infrastructure connectivity, human capital and skills development, and structural and institutional reform to improve the inclusiveness of the countrys economic growth. This paper is not written in an official capacity and must not be attributed to adb. The next phasejune 2016 in thailand are invested in the full range of manufacturing and service industries banking, insurance, it services, auto manufacturing, garments, electronics, and many others. A regional perspective on poverty in myanmar stephan schmittdegenhardt august 20 this research was commissioned by undp myanmar based on the data of the integrated household and living conditions assessment ihlca conducted under the support of undp, unicef and sida. Myanmar economy, politics and gdp growth summary the. Myanmars opening up democratic reform taken place in 2011 myanmar is identified as asias last economic frontier and one of the fastest growing and most promising economies in asia pacific the globally connected economy will result in new, growing demand for western lifestyles and eating experience. Myanmars economy could potentially grow at 7%8% per. Myanmar economy gdp, inflation, cpi and interest rate. Most western observers had decided in advance that the polls would be a travesty. Myanmar may for a long time remain in a transitional state with an uncertain future. With 189 member countries, staff from more than 170 countries, and offices in over locations, the world bank group is a unique global partnership. Et natasha breretonfukuithe wall street journal myanmars central bank, its naypyitaw headquarters above, could become independent from the finance ministry this year. Since 1990, myanmars growth has picked up, but it is still much weaker than.

In january 20, myanmar signed deals with the paris club of sovereign lenders and multilateral lenders such as the world bank and the asian development bank adb to clear or refinance a major portion of its debt. Initial assessment oecd development pathways is a new series that helps developing countries to identify and overcome the binding constraints to more equitable and sustainable growth. Myanmars two decades of halfway transition to a market. Once the worlds leading rice exporter, myanmar ranks 25th in the world for arable land, and the countrys per capita water endowment is 10 times that of china and india. This years report data cover regulations measured from june. The economy is expected to recover next year to grow in a range of 46 percent, in line with regional peers. The main drivers of growth were increased gas production, services, construction, foreign direct investment, and strong commodity exports. Global economic prospects examines trends for the world economy and how they affect developing countries.

Although economic ties with china contributed to the stability of myanmar, but made little contribution to myanmars broadbased growth and industrial development and even resulted in hindering the country. Adb economics working paper series myanmars trade and its potential benno ferrarini no. Check out our country profile, full of essential information about myanmars geography, history, government, economy, population, culture, religion and languages. The political economy of myanmars transition lee jones school of politics and international relations, queen mary, university of london, london, uk abstract since holding elections in 2010, myanmar has transitioned from a direct military dictatorship to a formally democratic system and has embarked on a period of rapid economic reform. The regime had been sanctioned and isolated following its refusal to transfer power to the winner of elections held in 1990, the national league for democracy nld, led by aung san suu kyi. Between 1900 and 1990, the global economy achieved average gdp growth of 3 percent a year. Regardless of these concerns, the governments additional spending on medical goods and services is an important step forward that holds the potential to both improve healthcare in myanmar.

The political economy of myanmars transition jones 2014. Access the latest politics analysis and economic growth summary through 2011 for myanmar from the economist intelligence unit myanmar economy, politics and gdp growth summary. Agriculture, natural resources, and environment initial sector assessment, strategy, and road map this sector assessment, strategy, and road map highlights the government of myanmars plans and strategies for addressing priority needs for the agriculture, natural resources, and. Economic indicators for myanmar including actual values, historical data, and latest data updates for the myanmar economy. Once the worlds leading rice exporter, myanmar ranks 25th in the world for arable land, and the countrys per capita water endowment is. To face down these challenges and find its way into the global economy, myanmar will need to build on its strengths, which are considerable. Economy economic indicators for myanmar gdp growth for myanmar will likely slow significantly to 4. Why the myanmar economy is slowing, and how it could bounce. Country overview 90 appendix major deals in the past three years.

The digital economy development committee is in the process of setting 3 up goals to be achieved by 2020. Introduction the installation of a new government in march 2011 has increased myanmars prospects for economic growth and integration into the international economy. May 21, 2012may 20, 20 the international emergency with respect to burma, and renewing the provisions of e. This page has economic forecasts for myanmar including a longterm outlook for the next decades, plus mediumterm expectations for the next four quarters and shortterm market predictions for the next release affecting the myanmar economy. Understanding myanmar council on foreign relations. After two decades of military rule, the pace of change has startled almost everyone and led to a great deal of cautious optimism. It was drafted from july to november 20, based on extensive desk research and interviews with representatives of all relevant public. Adb forecasts myanmars gdp growth to accelerate in 20 and to reach 6. The political economy of myanmars transition online burma. Mar 24, 2020 myanmar economic growth economic growth is expected to remain relatively stable this fiscal year, owing to stronger infrastructure investment and greater foreign investment inflows. During this period, global per capita gdp quadrupled. This economy profile presents the doing business indicators for myanmar.

The oecds mediumterm growth forecasts indicate that without structural change the economy can grow at an average of 6. The second quarter of 20 marked the first time in 30 months that the economies of the euro area, japan, and the united states all posted positive growth. Framework for economic and social reforms 114 20 framework for economic and social reforms policy priorities for 201215 towards the longterm goals of the national comprehensive development plan executive summary overview as recently as 2011, myanmar was still labeled as a pariah state. Doing business presents quantitative indicators on business regulation and the protection of property rights that can be compared across 190 economies. As the relationship between china and myanmar become closer under the military regime, myanmar deepened its economic dependence on china. She manages all the administrative and budget related work in the office.

However, a severe domestic covid19 outbreak poses a major downside risk. Debt sustainability this training material is the property of the international monetary fund imf and is intended for the use in imf courses. The congressional research service issued this 20 report pdf. Mandalay is located in the central dry zone of burma by the irrawaddy river at 21. This economic update provides an overview for 2012 and 20 in myanmar, years during which the economy continued to accelerate. But myanmars growth was strikingly low, estimated at only 1.

Economic relations between myanmar and china springerlink. Inflation in myanmar dropped to a fiveyear low in 2017, settling at 4. Access the latest politics analysis and economic growth summary through 2011 for myanmar from the economist intelligence unit myanmar economy, politics and gdp growth summary the economist intelligence unit. The countrys informal economy is one of the largest in the. Myanmar must consider the best way of reconnecting to the global economy through investment, trade, and flows of people. To make sense of the transition and assess the case for optimism, this article explores the political economy of myanmars dual transition from state socialism to capitalism and from. If thats not enough, click over to our collection of world maps and flags. Tensions between buddhist and muslim ethnic groups flared into violent clashes in meiktila, mandalay division on 20 march and continued until the 22nd, killing at least 40 and wounding 61 people. After a series of political and economic liberalization reforms from 2011 onwards, myanmar s political.

Infoplease has everything you need to know about myanmar. Creating sustainable apparel value chains a primer on industry transformation by dr. Jul 25, 2017 why the myanmar economy is slowing, and how it could bounce back economic growth in myanmar has slowed and the countrys fiscal and current account deficits have swelled over the past 2 years under the national league for democracy government. The opinions do not necessarily reflect the institutional points of view. The world economic forum global competitiveness report 20 ranked the overall quality of infrastructure in myanmar 146th out of 148, suggesting it is necessary for the government increase the number of construction and provision, as well as to improve the quality of infrastructure. Aenglish hon and yangon institute of economics mpa. The original text along with accompanying pictures and tables can also. Myanmar for talks leader aung san suu kyi visited several nations to strengthen ties tourism declared as national priority sector 25 million visitors forecasted in 20 2015 flow of tourists into the country is anticipated to rise increased trade ties and bilateral relations with international countries myanmar president, thein sein, seeks.