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Multi-dimensional Review of Myanmar

Volume 2. In-depth Analysis and Recommendations

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Building on an initial assessment of constraints to development in Myanmar (Volume 1), this second volume provides analysis and policy recommendations in three key areas: structural transformation, education and skills, and financing development. It finds that Myanmar faces a crucial few years to shape growth towards a higher, more sustainable and equitable trajectory. To succeed, it will require a transformation of the economy from an agrarian base reliant on small-scale agriculture at present towards a broad range of modern activities. Building up the right skills in the workforce will be essential to support this structural transformation. Myanmar’s transformation will also depend upon how effectively the country can mobilise and allocate the financial resources needed to support its development, which could amount to as much as an additional 5-10% of GDP on average over the next two decades.

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Providing the financial resources to support development

OECD Development Centre

Realisation of Myanmar’s potential will depend upon how effectively the country can mobilise and allocate the financial resources to support its development needs. At present, the key institutions in the government and financial system that govern mobilisation and allocation of development financial resources are underdeveloped and hampered by a range of constraints and distortions. These include limited government capacities and underdeveloped legal and fiscal institutions, as well as limitations in the regulatory frameworks essential to the effective functioning of markets and private sector development.Myanmar’s authorities have made impressive beginnings on addressing these obstacles but the challenge will be to sustain an ongoing process of institutional reforms and capacity building. Areas of reform should cover government mechanisms for reporting, co-ordinating, and managing external funding; public financial management and revenue collection; as well financial market development. Reforms should be targeted to ensure that the provision of financial resources not only keeps up with but helps to catalyse the country’s overall development.

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