Rising gas production and investment were the main factors behind the positive outlook, U Kyaw Win said at the May 5 meeting, adding that the country’s current account deficit is projected to remain “broadly stable” and larger flows of foreign capital will help increase the Central Bank’s international reserves.
The ADB projects a current account deficit of 8.3 percent of GDP for Myanmar in 2016, falling to 7.7pc in 2017, according to its economic outlook released in March. The Directorate of Investment and Company Administration (DICA) approved US$9.4 billion in foreign investment for 2015-16, although it struggles to track how much approved FDI actually enters the country. (Courtesy of Myanmar Times)
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