The Economy of Myanmar
The 2011 Reforms and the Fragile Boom
From 2011, a quasi-civilian government eased controls and sanctions were lifted, leading to a burst of growth and foreign investment.
Myanmar opens up.
Reforms
Exchange rates were unified, sanctions eased and telecom opened to foreign firms.
Telecom
Mobile phone use exploded after cheap SIM cards became available.
Growth
GDP grew at around 6 to 7 per cent a year in the mid-2010s.
Limits
Weak banks, poor infrastructure and conflict remained.
A cheap SIM
Prices for SIM cards fell from hundreds of dollars to a few, and most people got phones.
Assuming quick growth means solid foundations
Institutions lagged.
Key takeaways
- Reforms began in 2011.
- Sanctions were lifted.
- Telecom boomed.
- Weak institutions remained.
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