I think, Myanmar’s economic prospect is very bright indeed particularly in the medium to the long run

February 26, 2018

Interview with Dr Sean Turnell, Special Economic Consultant to the State Counsellor

Q: How important do you think this event is for our country?

A: Its very important. As we know Myanmar is a recipient of a lot of donor assistance. Its very important that systems be coordinated. and that is consistent with the gov to overall economy policy. So what this meeting is about to meet a donor communities but likewise all active in Myanmar government as well as in society business to make sure all those plans are consistent, spending and the revenue rising capacity, and so on, all integrated in one program.

Q: What do you think are the biggest challenges for Myanmar in the democratic transition?

A: There are many economic challenges here we’d like to practical transitional as well. So as we know Myanmar is in very much in a transition from an economy that used to very rigid, there was innocent locked up, we would also vested in interest and so on. Political transition is about in economic role. Its about liking something different opening things up competition allowing people that didn’t have access before, to have access to the economy, to be employed to start business, to have the full economic freedom. That is part of the whole democratic process.

Q: What recommendations would you like to make for achieving economic success?

A : The major thing is broad based by economic reform. The major thing is really the extension of the economic freedoms. I’m Always struck by the ability of people of Myanmar by the skills, enthusiasm, capacity etc..particularly among young people. In very much what they mainly need is freedom to be allowed to follow their dreams…Again we get back to the past, Myanmar economy was very much locked in high bound by old rules and regulations probably the most important thing we can do in terms of economic policy allow people to follow their own interest, to follow their dreams, and so deregulation, liberalization those are main strategies as well as more other things such as institution building and so on. But as a side to me, the extension of economic freedoms to the people of the country is the most important thing they could do to deliver genuine transformation growth.

Q: Please make short detail about economic prospect about Myanmar?

A:I think, Myanmar’s economic prospect is very bright indeed particularly in the medium to the long run. Its …around at the moment, but I think the country is very prime for the growth. One of the interesting thing is the government done nearly two years has been office ,has been to establish microeconomic stability. So if we look at in the kind of like inflation, budget deficit current account deficit, debt levels, money printing from the central bank , all of those areas which are key indicators of microeconomic stability. they are all better, then they have ever been basically. So another words one of the gov done is put things on very sound footing and now really the opportunity is to engage in the second wave of reforms to really push on the growth.so the economy growing quite strongly at the moment, faster growing economy in ASEAN , one of the fast is growing economy in the world , but it can go that be faster as well with …as a second round of the reforms on the basis of the really good foundation has been laid already.

Q: What is your suggestion to initiate a wider ratio of economic reform in the country?

A: Its really just to extend those economic freedoms I imagined earlier. I think one thing we could be done to be ordered every sector of the economy, and just looking for the rules and regulations that currently keep it and economic activity and just order to that saying which are those rules and regulation necessary which one are not, that ones are not , just removed them , and extend doesn’t seen them as an economic freedom of people just to do the thing to follow their dreams.

Ref; The Global New Light of Myanmar