Myanmar economy forecast to grow average of 7-8 per cent
Myanmar is poised to become Asia's next "rising star" with a decade of average annual economic growth of 7 to 8 per cent and a tripling of per-capita income by 2030, the Asian Development Bank said Monday.
Myanmar's gross domestic product (GDP) was expected to grow 6 per cent this year and 6.3 per cent in 2013, the bank said.
"Inflation has been brought down to a single digit, and fiscal deficits are being kept at 4 per cent to 6 per cent of GDP," an ADB report said.
The bank opened an office in Yangon this month. It painted a rosy picture of economic prospects after five decades of military rule and isolation, as long as the government is committed to political and economic reforms it launched last year under President Thein Sein.//DPA
