Myanmar’s economy is set to slow down this year after a solid rebound in 2018, but could accelerate in the medium-term if the government continues reforms aimed at improving regulations, encouraging investor sentiment, and ending its decades-long isolation, sputnik news reported.
The International Monetary Fund (IMF) has issued its updated GDP forecast for Myanmar, saying the South Asian economy is set to expand steadily this year, but is facing the risks of rising fiscal deficits and an overall slowing growth due to global factors. Among the main risks facing Myanmar, the Fund named is its excessive reliance on agricultural exports, insufficient investment, and a depreciating national currency.
According to the IMF, Myanmar's economy posted a robust 6.8-percent GDP growth last year, driven by a rebound in the agricultural sector, and supported by steady exports. The nation's inflation held firm at 4.0 percent, while its budget deficit rose to 2.7 percent of GDP.