Myanmar Economic Statistics

Burma Economic Statistics

National Statistical System of. - Banking, Statistics and Economy. In spite of its wealth of natural resources, Myanmar's agriculture-dominated economy is one of the least developed in Southeast Asia. Myanmar's third economic statistics problem is extensive illegal trade. National Statistical Organisation, Ministry of Planning and Finance.

Myanmar Policy Review Economy?"Myanmar's economy at night".

We now arrive at a "preliminary" estimation of per capita GIP per province using the finite information available. Firstly, the size of the electorate by county is assessed on the basis of the percentage of those entitled to vote in the November 2010 general election and the 1983 survey. Secondly, GNP is estimates by counties, taking into account that the non-agricultural sectors have the same proportion as the night-lights, while farm output has the same proportion as the proportion of farmland in each county.

Figure 5 on the other side of the page shows the geographical breakdown of the Myanmar and Thailand populations for 2009 and 2005 respectively. Myanmar's populations are already more highly populated than in Thailand. Part of the reason for this is that Myanmar has some mountain areas where there is a low level of people. On the basis of the Myanmar nightlight distributions we can have some impact on the country's economic and manufacturing activity.

The report indicates that the development of eastbound frontier towns could take place through stronger ties with their up-and-coming neighbours China and Thailand. Quite the opposite, the west frontier towns have not yet developed via their neighbours India and Bangladesh. In view of the experience of the border towns with China and Thailand, however, there are opportunities for the West's frontier towns to improve their ties to up-and-coming India and Bangladesh.

Not least, the question of the compromise between economic effectiveness and interregional equity has been raised for a long time. Both Brülhart and Sbergami (2009) argue that the trade-off takes place for countries with a per capita GDP of up to 10,000 US dollars. It is therefore essential to provide sound geo-economic information to political decision-makers in order to reconcile these two goals through a sound economic and socio-political approach.

Getting Myanmar's Economies in Order | The Myanmar Times

Myanmar will see the World Bank's economic growth averaging 7 per cent between 2017 and 2019. This is one of the fastestgrowing Asian countries, alongside India, China and Vietnam. However, on the spot in Myanmar, the situation seems to be decelerating. Goverment expenditure on infrastructure and deployment has dropped in the last three years, while the tax shortfall has inflated to 4. 4pc of GNP in the 2016-17 tax year from 3. 3pc 2015-16 and 1. 2-3pc 2014-15.

Meanwhile, FDI has fallen from more thanUS$ 9 billion in the prior year toUS$ 7 billion in 2016-17, while the trading gap has increased due to volatility in raw material costs, illicit trading and a weakening economy. The 2016-17 trading deficits exceeded USD 5.5 billion, compared with USD 5.4 billion in 2015-16 and USD 4.9 billion in 2014-15, according to statistics published by the Central Statistical Organization.

However, there are also a number of obstacles to economic progress and economic expansion, such as a shortfall in fiscal revenue, heavy regulation of the finance industry and a shortfall of corporate finance. A number of important economic revisions are needed to enable Myanmar to realise its economic full capacity and meet economic expansion expectations:

Firstly, the authorities must increase revenue and cut current expenditures so that they have more room for new infrastructures such as electricity networks, streets, hospitals at school. And in February, she recommended issuing it. Eighty-eight trillion for 2017-18, bringing the budget gap to K4.12 trillion. Other people have been suggesting increasing wealth taxation at local authority levels to increase the effectiveness with which the money is distributed to the various municipalities.

"Right now, communities are caught in a circle of low-tax revenues and services," said Lachlan McDonald, businessman at the Renaissance Institute, a think tanks in Yangon. However, even at the domestic level, according to the World Bank, Myanmar raises the lowest taxation in ASEAN, just under 8% of GNP in comparison to 16% in neighboring Thailand.

Meanwhile, the goverment needs to reorganise its expenditure, particularly on power prices. Recently, some have suggested that the Yangon is the only country where the Yangon subsidy is reduced, but so far without results. But the other way for the goverment to procure funds without exerting pressures on the budget deficits is to issue public debts.

Just over two years ago, in January 2015, a sovereign debenture of K3.67 trillion with a 7-9 voucher was launched in Myanmar. In September 2016, a K1.2 trillion loan with a yield of 8.6% to 9.6% followed.

On 25 July this year, the first Kanbawza and Yoma Banks entered into a bond exchange deal. In the case of an interbank loan, one institution borrows sovereign bonds to another and undertakes to buy them back one or more days later at a fixed price.

However, so far bonds have only been traded between banks. Talks are now also under way to make state treasures available for official stock market dealing on the Yangon Stock Exchanges (YSX), as the Myanmar Times sees it. Earlier today, U Thet Tun Oo, YSX Sr. Executives, said that talks are taking place between the YSX, the Central Bank of Myanmar (CBM) and the Budget Department to enable stock market dealing in sovereign bonds.

The Myanmar Companies Act, which was presented to Amyotha Hluttaw for regulatory clearance on July 20, is one of the most expected. It will supersede the current 1914 law requiring businesses to obtain the consent of the president to amend their name and the judicial consent to amend their commercial goals. The new Myanmar Companies Act allows foreign investors to participate directly in domestic businesses and trades in YSX stocks.

Lower parliaments have also drawn up bills to safeguard companies and promote innovations, while bills to set up an office to make it easier to trade bonds and to promote lending to a greater number of companies are in preparation. It is anticipated that the first loan office in Myanmar will open after having received the appropriate licences from CBM within the next 12 moths, as International Finance Corporation announced this past moth.

Whilst these are all moves in the right directions, the more urgent issue for many companies and prospective investment opportunities in Myanmar is when the new legislation will come into force. -Cheah Swee Gim, head of the Kelvin Chia Partnership said that the New Companies Act could be passed at the next parliamentary session, possibly as early as September or October.

The Ministry of Planning and Finance in March adopted the definitive Myanmar Investment Rules, published under the Myanmar Investment Act 2016. The new Act does not provide for the need for additional approvals for investment with regulatory approvals from the Myanmar Investment Commission, while granting fiscal incentives for investment in subsidized industries such as infrastructures, health care and education.

Myanmar's interest rate is one of the highest in the area at 13%. Whilst high interest is discouraging businesses from borrowing, BCM also forbids banking institutions from reducing their interest rate below the rate of rate of inflation. The high rate of domestic headline price increases is due to the high amount of funds that are being squeezed by the Federal Banking Commission (CBM) to finance the budget deficits.

It is the government's aim to progressively decrease its dependence on the BCM to finance the budget deficits. By 2019-20, the goal is no recurring expenditure of the federal budget will be financed by the Federal Reserve, said Sean Turnell, economic adviser to the federal administration. In this financial year, the Governement failed to meet its objective of cutting the ECB's budget deficits to 40% of the overall budget budget deficit.

"This was because the level of funding borrowed by retail banking was still below target at this early phase in the Treasury Bill and Debt markets," said AMRO's economics team. But they also said that better budgeting and the incorporation of external finance into the finance system should put the administration on the right track in the coming years.

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