MoPFI Deputy Minister holds virtual meeting with AMRO Mission chief

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Deputy Minister U Maung Maung Win holds virtual talks with ASEAN + 3 Macroeconomic Research Office (AMRO) Mission Chief Dr Lee Lae Young on 14 December 2020. Photo : MNA

Deputy Minister for Planning, Finance and Industry U Maung Maung Win held a virtual meeting with ASEAN + 3 Macroeconomic Research Office (AMRO) Mission Chief Dr Lee Lae Young and his party yesterday afternoon.
During the meeting, the Deputy Minister expressed thanks to AMRO for its regional economic analysis, technical assistance and training.
In the 2019-2020 financial year, Myanmar’s economic growth rate was initially expected to grow by 7 per cent, but only 3.2 per cent was achieved because of the impact of COVID-19 pandemic, according to the Deputy Minister, who also said that Myanmar has been implementing the plans to remedy the COVID-19 related economic impacts, by getting loans from international institutions such as World Bank, ADB, IMF and JICA.
He said that the COVID-19 Economic Relief Plan (CERP) and the Myanmar Economic Resilience and Reform Plan (MERRP) had been drafted for the post-COVID-19 period. MERRP aims for the stability of macroeconomic and financial sectors, said the Deputy Minister. It also emphasizes the need to focus on sustainable investments in the renewable energy and infrastructure sectors.
Dr Lee Lae Young said that although the COVID-19 crisis has undermined Myanmar’s economy, the Myanmar currency Kyat has been relatively stable compared to other nations in the region. Foreign investments in Myanmar and imports/exports of the country is likely to increase, said Dr Lee Lae Young, who pledged that people of Myanmar would be brought to the AMRO office for further training.
The meeting was also participated by officials of the ministry and other relevant officials.—MNA (Translated by Maung Maung Swe)

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