Myanmar-World Bank Group Partnership

Myanmar grew at an estimated 8.5 percent
in real terms in 2014-15. Economic reforms have supported
consumer and investor confidence despite business
environment and socio-political challenges. The economic
impact of the floods that hit Myanmar from July 2015 is
still being assessed, but will likely adversely affect the
main rice crop this year. According to preliminary analysis
of census data, the areas most affected by the floods are
those where people were relatively worse off. Fiscal policy
is expected to remain broadly on track, but the current
account will come under further pressure due to import
demand for post-flood rehabilitation and slowing
agricultural exports. Addressing short-term macroeconomic
challenges will require continued efforts at maintaining
exchange rate flexibility supported by fiscal and monetary
discipline. Supporting governance improvements is a core
focus of the World Bank Group (WBG) program. The WBG is well
positioned to support the improvement of corporate
governance standards in order to build confidence and
facilitate investment in domestic firms.