Economy

Myanmar’s macroeconomic performance improved in 2018 as recovery in the agriculture sector, rising oil and gas prices, and substantial growth in several manufacturing segments helped the country regain positive momentum. Efforts to encourage private sector activity and liberalise the economy have been extensively detailed in a new long-term economic development agenda, and recent legislative reforms should further bolster business engagement. At the same time, the country is facing several notable challenges. The liberalisation of financial services has been slower than anticipated: deficits in the fiscal budget and the external balance of trade remain large and continue to grow, and currency depreciation hampered growth and spurred inflation in 2018. This chapter contains interviews with U Soe Win, Minister of Planning and Finance; U Zaw Min Win, President, Union of Myanmar Federation of Chambers of Commerce and Industry; and Parag Khanna, Founder and Managing Partner, FutureMap.