Myanmar merchants face difficulties with China border trade due to local currency depreciation

With Myanmar currency depreciation, merchants on the Myanmar-China border are facing difficulties with their trade activities, local merchants said.   The exchange of a Chinese Yuan for Myanmar Kyat has now reached Ks580 up from Ks270 and 350.   “We have difficulties with our trade activities due to the decreasing local currency value against foreign […]

World Bank downgrades Myanmar’s GDP forecast, flags rising risks

Myanmar is forecast to grow at a slower pace of 6.2 percent this year compared with 6.8pc in the previous year, according to a report by the World Bank released yesterday. While prospects for the economy are positive over the longer term, the risks to growth for the coming year have also risen. In that […]

Ten Reasons Behind Myanmar’s Economic Slump

YANGON—A recent business sentiment survey of the second quarter of 2018 outlined ten main reasons why Myanmar’s businesses are facing worse conditions now compared to the two previous years. Nearly 1,500 businesses from the service, manufacturing and trade sectors contributed to the survey which was conducted by the Republic of the Union of Myanmar Federation […]

Risks loom as inflation concerns remain

The International Monetary Fund (IMF) raised Myanmar’s economic growth forecast to 7.5 percent for the 2013-14 fiscal year, up from 6.75pc, due to continued economic reform that includes the loosening of restrictions in the private sector, the Fund announced in a release. Despite the country’s encouraging macroeconomic situation, the IMF once again warned that gains […]