Myanmar’s development finance assessment (DFA) provides and overview of the country’s financing landscape within the context of the substantive progress made during the country’s transition from conflict to peace, from military rule to democracy and from a closed to an open market economy.
The country’s first democratically elected government is committed to achieving the Sustainable Development Goals (SDGs), however significant challenges still exist. Myanmar is particularly vulnerable to climate-related risks, which disproportionately affect the most vulnerable.
The DFA emphasises the preeminent role of public finance. The government draws its revenue mainly from extractive industries; however, volumes are declining as commodity prices fall. The Government will continue to work on strengthening tax collection systems and broadening the tax base in order to increase tax revenue.
The DFA outlines opportunities to mobilise private finance by continuing to grow and diversify foreign direct investment (FDI) and accessing export markets. The DFA also recommends strengthening the institutional framework, establishing a monitoring framework and improving the institutional and legal framework for public-private cooperation and financing.