Myanmar’s economic growth is expected to slow by 0.6 percent to 6.2 percent growth in 2018 - 2019 fiscal year: factors for the slowdown include rising risks from the Rakhine crisis

Myanmar’s economic growth is expected to slow from 6.8 percent in 2017-18 to 6.2 percent in 2018-19 and face potential risks to recovery, according to the World Bank’s latest country report, released Thursday.

Growth is projected to recover to 6.6 percent by 2020-21, “helped by recent policy changes such as the adoption of the Myanmar Sustainable Development Plan, liberalization of wholesale and retail trade, implementation of the Myanmar Companies Law and large investments in infrastructure projects including those related to the Belt and Road Initiative,” the bank said.

But it warned that it foresaw risks from intensifying impacts of the Rakhine crisis, domestic macroeconomic imbalances and the possible repeal of the Generalized Scheme of Preferences by the European Union and a possible slowdown in global growth.

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