Myanmar Growth RateBurma Growth Rate
Impetus from the agricultural sector, first half growth of 7.2 % for the first half of the year.
Myanmar's growth in GNP is estimated at 7. 2% in the first six of 2018 under the National Planning Act, which President U Htin Kyaw ratified and ratified on March 8 and published on Monday. That' up from 6. 24pc in the first six moths of 2017.
Throughout the same timeframe this year, "will not be too difficult," said U Maung Maung Maung Tint, general director of the planning department under the Ministry of Planning and Finance, The Myanmar Times. "The half-year guidance for this year is predicated on last year's growth and the potential for new ventures this year," he said.
Provisional figures show that Myanmar's economies expanded at a rate of 6.8% in the 2017-18 financial year, thus failing the government's 7% goal. "Despite not meeting the goal, the rate of growth in GNP is still not too bad," said U Maung Maung Tint. Much of the projected growth in agricultural output is foreseen for the first six-month period of this year.
"Agricultural production will increase. That is the industry where yields are fastest. We also have extensive agricultural experience," says U Maung Maung Tint. "In this way, we will invest in this industry and adapt the seed we use for growing to climatic condi-tions.
When we can do that, growth in the agricultural industry is forecast to more than double by 3. 5- pc this year as against 1. 3 pc this year," said U Maung Maung Tint. If the situation improves, other industries such as industry and transport should also profit, he added.
According to the Ministry of Trade, Myanmar's agricultural industry is currently one of the biggest exporters. It accounts for about 20% of the country's GNP, while the industry generates about 35%. Below the national plan, the agricultural industry is projected to expand at 3. ý5pc during the next few moths.
Also other industries such as power and power, transport, finances, building and industrial as well as trading are likely to show strong growth. It is only the forest segment that is likely to decelerate. From states and territories, the Economies of Yangon and Mandalay have been predicted to thrive by 8. 36pc each over the next six months, constituting the quickest growing areas in the Country.
The Kachin state, which is enjoying the most nature reserves, is anticipated to design a growth rate of just 2. 85pc over the bout. This is lower than the other regions and states in the state, which according to the national plan are set to increase by between 5 and 7 percent. Over the same time frame, it is estimated that 9.7 trillion K will be imported, in excess of 9.3 trillion K for export.
This is a trading shortfall of around K 400 billion, as planned. In the meantime, government investment is expected to reach around CZK 2.9 trillion in the six-month period. Among the nationwide programming activities are those promoting ethnical unification, nationhood and criminal justice. They will be carried out in line with the country's own policies and the relevant divisions and organizations must prioritize investment that will produce immediate and sustained results for the state and its people in accordance with the provisions of the German Federal Act on Budgetary Control.
It is also necessary to assess the project's practicability and practicability, support regional developement and prevent environmental pollution. National Plan comprises a long-term 20-year National Comprehensive Programme and short-term 1-5 year programmes. Among the group' s activities are in the various industries and throughout the region and states.
This includes specific developments such as the developpment of humanitarian resources, EEZs and SEOs, as well as those of industry, agriculture, investment, agriculture, towns, rural and frontier areas.