Myanmar Targets 6 % GDP Growth in 2020-21

U Maung Maung Win, Deputy Minister of the Ministry of Planning, Finance, and Industry, forecasted that the country’s GDP growth in the 2020-21 Fiscal Year targeting to reach K125.803 trillion. 

There are multi-sectoral collaborations going on to stabilize the price, strengthen local currency, and minimize inflation, he said during the Parliament session on July 13. 

The government also forecasted that agriculture will show 2.6 percent development and 6.5 percent in industrial sectors. 

For the 2019-21 Fiscal Year, the country targeted K119.023 trillion and 7 percent GDP growth. It has generated K74.503 trillion GDP in the first six months of this fiscal year.

However, the country also targeted 4.1 percent of economic growth by the end of the 2019-2020 fiscal year.

Written by Tayzar Bhone Myint/ Translated into English by Min Thu Aung