Myanmar's inflation rate estimated to rise within 2 years: ADB

Source: Xinhua| 2017-04-07 19:19:09|Editor: ying
Video PlayerClose

YANGON, April 7 (Xinhua) -- Myanmar's inflation rate is estimated to rise up to 7.3 percent along with its economic growth in the next two years, local media Voice quoted the Asian Development Bank (ADB) as reporting Friday.

The growth rate of the country's gross domestic product (GDP) is estimated to go up to 8 percent during 2017 if the promulgated economy-related laws could be implemented practically, ADB's country economics officer Daw Thitha Myint was quoted as saying.

During these years, Myanmar's import is expected to increase much and will suffer the inflation correspondingly, she said.

It had been expected that the country's GDP could have gone up in 2016. However, the agricultural production dropped during the year with the fall of prices and investment in the energy and construction sectors slowing down, bringing about the drop of GDP.

Myanmar's inflation rate in 2015 stood at more than 11 percent, but dropped to 6 percent in 2016 due to slow economic growth, according to the ADB report.