International Monetary Fund. Asia and Pacific Dept
INTERNATIONAL MONETARY FUND
This 2013 Article IV Consultation highlights that recent economic developments in Myanmar have been positive. Growth is estimated to have risen to 61/2 percent in FY2012/13 (April-May), driven by gas production, construction and services while inflation climbed to 4.7 percent in March 2013. The external current account deficit is estimated to have widened to about 41/2 percent of GDP in FY2012/13, but to have been largely financed by foreign direct investment. The economic outlook remains favorable. Growth is expected to accelerate slightly in FY2013/14, led by rising gas production and investment, including in the transport and telecommunications sectors, and a recovery in agriculture.