Myanmar grew at an estimated 8.5 percentin real terms in 2014-15. Economic reforms have supportedconsumer and investor confidence despite businessenvironment and socio-political challenges. The economicimpact of the floods that hit Myanmar from July 2015 isstill being assessed, but will likely adversely affect themain rice crop this year. According to preliminary analysisof census data, the areas most affected by the floods arethose where people were relatively worse off. Fiscal policyis expected to remain broadly on track, but the currentaccount will come under further pressure due to importdemand for post-flood rehabilitation and slowingagricultural exports. Addressing short-term macroeconomicchallenges will require continued efforts at maintainingexchange rate flexibility supported by fiscal and monetarydiscipline. Supporting governance improvements is a corefocus of the World Bank Group (WBG) program. The WBG is wellpositioned to support the improvement of corporategovernance standards in order to build confidence andfacilitate investment in domestic firms.
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