What is the Time in Myanmar right nowSo what is the time in Myanmar right now?
Myanmar, a rose pinky is a symbol of expectation.
This is a time for Myanmar. This is the first time in many years that the Myanmar population has voted in a largely free ballot. There is nothing formal yet - and the army junta is known for invalidating the poll. However, at the moment it looks like a sovereign win for Aung San Suu Kyi's group.
And she didn't want to do anything to get the army. Only because her political group has won does not mean that she will be leading, because the army will remain a mighty power. But in Yangon it's time to celebrat. "Sentiment is quite euphoric," says Patrick Winn of Global Post. "Walking around the city, you see inkstained folks, a sign that they called.
And I think they' re quite excited that they even had the opportunity to cast their votes and that it looks like the outcome of the votes will be accepted." He says that living in Myanmar under strategic command can be quite de-human. They stole property, censured the press, warned the public what to do, what to think.... the lists goes on.
It is excluded from the presidency by a constitution order. She' s still leading the group. Whoever becomes chairman must basically be her marionette. And the new chairman will also have to make do with the army. We' re talkin' about civilian warfare, anti-Muslim fanaticism, fugitives, furious gendarmes, kid labour; Myanmar is just the toughest work in the world."
Now it'?s time for a little celebration. And, in a mark that changes lives, you can see pictures of those with pinks on Facebook and Instagram. In the past, the army had forbidden such online communities.
Is it time for Myanmar's upturn?
For the coming year, higher levels of GDP expansion are predicted and the authorities seem optimistic that it can bring genuine advantages, but the inhabitants of the countryside and cities are not so sure. In recent months, much has been reported on the National League for Democracy in its first year in power, or not.
Business administration is seen as a weakness of the state. She has been sluggish in explaining her policy and priority and has not yet formulated a real business perspective for the state. Myanmar's leaders take up their duties on or about April 1, the beginning of the year.
The Asian Development Bank published its results for 2016-17 on 6 April, which were included in the first year of the NLD administration, and also made forecasts for the next 12 inches. GDP decelerated by almost one point, from 7. 3 per cent in 2015-16 to 6. 4 per cent. The ADB blamed this on the after-effects of the 2015 floods and low global raw material costs, as well as the decline in sales in all three industrials.
Service sector sales grew by 9. 1 to 7. 6 per cent, while the agricultural sector by 3. 4 to 2. 5 per cent and the industrial sector by 8 per cent. Seven per cent to eight, two per cent. The figures therefore suggest that the NLD has led a decelerating economic slowdown, although the degree to which it is to blame for this slowdown is questionable.
The ADB reports that authorised FDI has also started slowly under the present administration and declined by 28 per cent in the first nine of the 2016-17 financial year. Year-round pictures from the Board of Directors of Investing and Company Administration show that capital spending dropped about 30 per cent to US$6. 64 billion, down from $9. 48 billion and the first decrease in four years.
Corresponding compound accounts, Farming, Mining, Petroleum and Natural Gas and Construction did not receive any capital expenditure, transportation and communications of $3. 08 billion, followed by manufacture ($1. 179 billion), energy production ($909 million), property ($747 million) and hotel and tourist ($403 million). Myanmar Investmen Commission Secretariat U Aung Naing Oo recently said to journalists that the sum for 2016-17 is still above the government's $6 billion-goal.
It is also important to differentiate between contractually agreed FDI and real flows, and the Nikkei Asian Review recently published that the DICA numbers showed that there had been no deceleration in this respect in the first nine month of the NLD inauguration. While the IMF forecasts a very moderate 7 per cent decline in the real FDI in 2016-17, it is expecting a all-time high this year, NAR said.
An area in which the NLD administration has clearly been successful is the fight against hyperinflation, which reached its peak at 16. 2% in October 2015 and helped to devalue the Swiss franc. Until the NLD took up its position, headline rate had been moderating to 11. 2 per cent, falling further in the next 12 months to 6. 5 per cent, the ADB said, quoting central statistical organization Pictures.
It said growers wanted the goverment to introduce checks to ensure a fair rice tariff. "You said Myanmar will unlock Singapore in the years ahead. That is not right in my view, it is only a word of mouth. Are they able to even take Myanmar to the levels of the early years of the U Ne Win age?
"I' d like to tell the administration: Are you doing true business growth. They are still too self-confident, but it is time to hear the voice of men and women and to make practical changes. Off-hook time? However, the federal authorities are optimistic that they can supply within the next 12 is.
We do Tun Tun Naing, the standing Secretary of the Ministry of Planning and Finance, said 2017-18 was considered a year for business "take off". While refusing to give details, he said that the authorities would generally be investing in infrastructures and introducing policies to promote the export and growth of small and medium-sized businesses.
ADB predicts that in 2017-18 gross domestic product will increase to 7.7 per cent before reaching 8 per cent the following year. Agribusiness, which provides the biggest group of the population with incomes, should increase by 3 per cent under ordinary climatic condition. Both the industrial and service sectors are likely to show strong expansion.
ADB said that telecoms should give the service sectors a further impetus, while the industrial sectors are likely to grow by 10 per cent this year and next. But both 2017-18 and 2018-19 are likely to see a further increase in the CA balance deficits due to sluggish export expansion and the high value of EU-import.
Shortfall in the CA is a measurement for the import and export of goods, more. Promoting external investments - in particular real cash flow - will help to offset the funds that leave the state. Good tidings for the administration are that the new capital expenditure bill, which came into force on April 1, should increase attracting FDI if it is actually applied, according to the ADB.
In the meantime, a new corporate code is anticipated in 2017, which will help to enhance the environment for domestic and international invest. The NLD administration has succeeded in curbing the rate of global warming, but ADB forecasts a small increase to 7 per cent this year and 7 per cent. Five per cent in the next.
However, the administration is still seen to maintain its present conservative stance. 5% of GNP. The ADB says "the budget deficit is planned to be limited to 3 to 4 per cent of GNP this year and next year by increasing revenues and spending efficiency". To put it briefly, this means that the state is planning to raise more tax and make sure the funds are duly used.
Myanmar's economy is "the key" to Myanmar's future prosperity, Ms Yumiko Tamura, head of ADB Myanmar, said to Myanmar correspondents. Unfortunately, governance is often more of an obstacle than an aid to business. While the new corporate and capital expenditure legislation was good news, the ADB found that "Myanmar still does not have a trustworthy and solid legislative and regulative environment to help the creation of a dynamic retail sector".
Some have criticized the NLD administration for not being consulted in the preparation of legislation, ordinances and policy. These are often written by a department, and even other civil servants of the administration are overlooked. ADB called on the German authorities to make sure that the consultative processes for legislation and regulation involve all parties and not just a central minister.
MAPCO, member of the Myanmar Agribusiness Public Corporation's (MAPCO) executive committee, Dr. Soe Tun, said he expects to see sharp rebound this year, but a further devaluation of the greenback due to the trading shortfall.