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Burma has fallen short of its projected economic growth rates for the past two fiscal years, Minister for National Planning and Finance Kyaw Win acknowledged during a joint session of Parliament on Monday.
Burma’s short-term business confidence dropped to 49 percent in 2017 from 73 percent a year ago, according to a survey.
Similar to the establishment of the EU, the AEC also seeks to create free mobility of goods, services, investment, capital and skilled labour.
Burma’s first freely elected cabinet in more than half a century will focus on income equality, rural development and boosting budget revenue, the finance minister-elect said in his first interview since being picked for the job.
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GDP statistics are being tweaked to present a rosy picture of Burma, which remains the third most corrupted country among all Asia Pacific nations.
Burma is one of 20 countries whose military expenditure is more than four percent of its GDP, according to a Swedish think tank.
Burma attracted US$8.01 billion in foreign direct investment in the last fiscal year, with oil and gas the leading sector.
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ADB predicts 8.3% growth in Burma for 2015; Burma energy drink firm signs Liverpool FC; Chevron inks oil deal; and problems for the shrimp industry.
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Burma’s Finance Minister Win Shein confirms a plan to increase the salaries of government workers from April this year.
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Asian Development Bank says economic growth in Burma will surge by over eight percent for the next two years and urged the govt to press on with reforms.
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World Bank to loan US$100 million for Irrawaddy River basin; Burma, Israel sign bilateral trade agreement; Tourists from 67 countries now eligible for E-visas; Thai energy giant fires up coal power plant project
The World Bank estimates Burma’s economic growth rate at 8.5 percent for 2014 and 2015, a figure higher than any other nation it surveyed, including China.
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ADB predicts 9.5% growth by 2030; South Korea to sponsor US$20m development institute in Burma; MSF Holland signs MoU on disease control; Indonesian firm WIKA to build $125 million tower in Burma;
Burma can expect continued strong economic growth over the next fiscal year, the International Monetary Fund (IMF) said.
Despite an influx of foreign investment and large resource base, Burma’s exponential growth could be held back by inadequate basic infrastructure and a lack of skilled workers, says an international business analyst.
The Ministry of Finance will attempt to raise nearly five trillion kyat (US$5 billion) in taxes in the 2014-15 financial year.
Education and health sectors could see dramatic increase in spending but additional money also proposed for Burma’s military
Jan 5, 2010 (DVB), Low-earning public service personnel in Burma are to receive a pay hike that could in some cases more than double their salary, according to government officials[…]
