GDP growth rate expected to hit 7.6 pc

Writer: 
Zeyar Nyein

 

According to the National Planning Budget for 2018-2019 FY, the Gross Domestic Product (GDP) growth rate calculated on normal prices is expected to hit 7.6 per cent.

The normal prices are prices for goods and services in the 2015-2016 FY.

In 2010 and 2015, Myanmar’s annual average GDP growth rate stood at 7.3 per cent only, according to the World Bank’s “Myanmar’s Future Jobs: Embracing Modernity”.

In 2018-2019 FY, of 14 sectors, the telecom sector is set to hit 15 per cent, the highest growth rate. In addition, other service sector is expected to reach 12 per cent, the industry sector, 11.2 per cent, the monetary sector, nine per cent, transport sector, 8.9 per cent, construction sector, 8.6 per cent and the mining sector, 7.5 per cent, trade sector, 7.7 per cent, social and economic sector, 7.3 per cent, electricity and energy sector, 2.9 per cent, farming sector, 2.4 per cent, fishery sector, four per cent and forest sector, 1.1 per cent.

The budget bill drafted for 2018-2019 FY will take effect on October 1 this year.