Burma has fallen short of its projected economic growth rates for the past two fiscal years, Minister for National Planning and Finance Kyaw Win acknowledged during a joint session of Parliament on Monday.
The International Monetary Fund on Friday forecast an economic rebound in Burma this year, but said the Rohingya refugee crisis may dampen investment as the country faces international pressure over its treatment of the Muslim minority.
China is ploughing money into Southeast Asia, but as welcome as all this economic activity is to the region, it could also present political problems, as countries confront China over issues such as its claims in the South China Sea.
Burma’s oil imports are surging to fuel a fast-growing economy and rebuild rotting infrastructure, creating a small but profitable route for ships making a beeline for the emerging Southeast Asian nation from the regional hub of Singapore.
The United States received its first commercial-scale imports of coffee from Burma in over 15 years this month as part of a US government programme to help farmers in the once-isolated Southeast Asian economy.
Now that the vote has lived up to its seismic billing, DVB sat down with Professor Maw Than, a former director of the Central Bank of Myanmar to discuss how next year’s NLD-led government will continue the project of Burmese economic rehabilitation.
Noted political scientist and author Francis Fukuyama spoke to DVB on the sidelines of his talk in Rangoon, where he discussed economic policy, the rule of the law, and the need for Burma to be patient on the road to democracy.