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ADB Upgrades Burma Growth Outlook

4 October 2012

Burma’s economy is expected to grow by 6.3 percent this year and 6.5 percent in 2013, up from earlier projections of 6 and 6.3 percent, respectively, according to a statement from the Asian Development Bank (ADB) on Wednesday. “All in all, Myanmar’s economic performance is good and appears to be getting better,” said the bank’s country director for Thailand, Craig Steffensen. Meanwhile, the ADB has downgraded growth expectations for the region as a whole, predicting 6.1 percent this year (down from an earlier estimate of 6.9 percent) and 6.7 percent next year (down from 7.3 percent).