Colliers believes that the most crucial driver in Myanmar’s economic progress is the reforms that will further liberalise the country’s key investment sectors. 

The International Monetary Fund has warned that the Myanmar economy “appears to be losing momentum”, citing weaknesses in the banking sector among other issues.

The IMF said “risks are tilted to the downside” however it expects economic growth of 6.4% in the fiscal year 2018-19 (October 2018 to September 2019) if government spending picks up.

According to The World Bank’s medium-term macroeconomic outlook, they project an economic recovery to 6.6% by 2020/21. However, this will only transpire if more economic policies are rolled out.

As explained by the World Bank, their positive projection is driven by an expected pickup in foreign and domestic investment responding to recent policy measures such as the opening of retail and wholesale sectors, services sector liberalisation, loosening restrictions on foreign bank lending and continued implementation of the companies act.

Sources: The International Monetary Fund, World Bank, The Myanmar Times, Colliers International Myanmar

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