Myanmar ForecastBurma Forecast
Local Weather Forecast for Yangon
7 days forecast for Yangon: Next week's forecast for Yangon shows that the daily mean peak will be 32°C, with a weekly high of 32°C on Tuesday afternoons. Mean min. temperatures will be 26°C and will drop to their low point at 25°C on the mornings of the seventh Saturday.
In the coming weeks, you should anticipate a few rainy and rainy evenings. Recent forecasts suggest that Wednesday, July 7, will have the most rainfall with an increase of about 26.0 mm.
Burma's growth is expected to rebound in 2016 following a slowing economy.
Whilst the prospects for Myanmar are relatively favourable, the latest issue of the Myanmar Economical Monitor states that the economy faces several major threats to steady expansion. Given that investment remains prudent, the interim reports suggest that the new Myanmar administration takes action to enhance the transparency, communications and plausibility of its fiscal stance. The 12-point plan for the economy published last July, supplemented by periodic reports on short-term fiscal and monetary developments, could help to underpin business sentiment and strengthen investment sentiment.
Myanmar's economy is expected to slow from 7.3 per cent in 2015-2016 to 6.5 per cent this year. In the first six-month of its existence, the new administration has experienced a challenging business climate, as the economy has further recovered from the reduced raw material supplies caused by last year's inundations.
The bottlenecks in economic supplies helped fuel high levels of headline price increases, which continued in the first half of 2016.
IWF sees higher economic expansion in Myanmar, but Rohingya crises could damage investments
Since the end of August, more than 600,000 Rohingya have escaped to Bangladesh, displaced by a counterinsurgency mission in the Buddhist controlling state of Rakhine in Myanmar. Burma disputes that. Although there are no signs of greater immediate repercussions, the crises have dampened hope of a booming West economy, as US and EU businesses are shying away from the reputation risk of investments.
The World Bank frozen $200 million in Myanmar's budgets last months because of the financial war. "Myanmar's domestic dispute and human rights crises in the north of Rakhine could influence financing for aid and the mood of investors, although the immediate financial consequences appear to be largely localised," the head of the Myanmar missions, Shanaka Peiris, said to reports in the trading capitol Yangon.
We expect to see a recovery in sales to 6.7 percent," he said. Nonetheless, the short-term course of economic expansion is slightly less strong than previously anticipated, which reflects a dampened recovery in internal investments and the insecurity about the Rakhine state crises, especially for the tourist industry. While the IMF had previously lowered its GDP forecast for Myanmar from 7 per cent to 6.7 per cent in 2017-2018, Shanaka said that, thanks to a recovery in the agricultural industry and export activity, it still represents a "significant acceleration" from 5.9 per cent a year ago.
Aung San Suu Kyi's administration had experienced "a demanding first year" with less than anticipated economic expansion, but the medium-term prospects remain "favourable" as higher fiscal revenue could help underpin it. Since Suu Kyi's National League for Democracy won an elections in 2015 and took up his post early next year, permits for international investments have slower.
Nevertheless, Myanmar has been enjoying one of the highest rate of regional economic expansion after the country's almost 50 year rule handed over to a quasi-civilian regime in 2011, which embarked on swift reform, which included loosening the regulations on external investments in the years 2013-2014.