YANGON, Jan. 10 (Xinhua) -- Myanmar's National Planning Commission has met to discuss the country's national plan for 2017-18 drawn up by the Ministry of Planning and Finance, Myanmar News Agency reported Tuesday.
Speaking at a meeting of the commission on Monday, President U Htin Kyaw called on region and state governments to attach importance to projects in their respective regions and states to be in conformity with the 12-point economic policy laid down.
He called for planning big projects within the budget allocation of the state.
State Counselor Aung San Suu Kyi, who is also Deputy Chairperson of the Commission, urged for inclusion of the projects in the national planning that can contribute to short-term and long-term interest of the country.
She said the plans should be adaptable to suggestions made by the parliament for approval when they are submitted to the parliament for approval as the government and the parliament have a system of check and balance.
Myanmar's economy is estimated to grow at a 5.7 percent rate in the current fiscal year of 2016-17 and the country's growth of gross domestic product (GDP) is expected to rise to 7 percent. Per capita GDP is expected to reach more than 1.7 million kyats (1,307 U.S. dollars) as disclosed at the commission's meeting.
The country's economic growth slowed in the first six months of 2016-17 due mainly to a slump in agricultural production, foreign investment and the export sector, the president revealed.
A follow-up meeting of the Finance Commission also discussed budget for 2017-18 fiscal year.