IMF raises Myanmar forecasts, praises reforms

[WASHINGTON] Myanmar is set to grow 7.5 per cent during the current fiscal year, and about 7.7 per cent in the next, the IMF said on Tuesday, as services and manufacturing expand in one of Southeast Asia's fastest-growing economies.

The International Monetary Fund last predicted Myanmar would grow just under 7 per cent this year. But the Fund warned about the outlook for inflation, which should exceed 6 per cent in the fiscal year that ends in March.

Myanmar, a former pariah state in Southeast Asia, has launched a series of economic and political reforms under its quasi-civilian government, which came to power in 2011 after nearly half a century of military rule. The government has aimed to attract foreign investment, create jobs and boost infrastructure.

The IMF, which had a staff-monitored program for Myanmar last year, said officials had achieved all the goals they set, such as liberalizing the foreign exchange market and building up the central bank's reserves.

http://www.information.myanmaronlinecentre.com/imf-raises-myanmar-forecasts-praises-reforms/