Myanmar Country RiskBurma Country Risk
Myanmar Country Risk: Business
Burma continues to be one of the fastest expanding countries in Southeast Asia and one of the fastest expanding countries in the hemisphere. In recent years, Myanmar has gone through an unparalleled period of economical and politic liberalization, which has prompted the United States to lifted the penalties against the country, which has been in existence for almost two decade .
During its first year, the new administration, headed by State Councillor Daw Aung San Suu Kyi, has embarked on a new policy, developed new healthcare and educational strategy, identified new priority areas such as food and agricultural policy, and speeded up work on the peacemaking agenda. During 2017, the authorities continued their reform and fiscal adjustment effort.
For 2016-2018, the government budget was 2.5% of gross domestic product, a significant decrease compared to the previous year (4.5% of gross domestic product). Despite falling (6.5% in 2017), the rate of increase is still high due to expansionary policies, wage increases, house prices and domestic consumption expansion.
IMF called on the country to implement a new set of reform measures, among them addressing the human rights situation in Rakhine State. Burma is one of the impoverished nations in Asia - a fourth of the countryâ??s people live below the breadline â?" and one of the most corrupt.
Threats to the free movement of the media continue. In spite of recent progress, the country continues to face serious questions of good management. It measures ten elements of free enterprise, divided into four main types or columns of free enterprise: State under the rule of law (property laws, absence of corruption); limited sovereignty (tax exemption, public spending); regulatory efficiency (business exemption, employment exemption, currency exemption); and open economies (trade exemption, free investments, free finance).
Every one of the liberties within these four large catagories is evaluated separately on a range of 0 to 100. The total value of a country's total free economy is a mere mean of its values for the 10 states.