Myanmar economy grows 4.6%

Myanmar economy grows 4.6%

YANGON (AP): Myanmar's economy grew 4.6 percent in the last
fiscal year, failing to reach the targeted growth rate of 6.4
percent, according to newly-released official statistics seen
yesterday.

Statistics issued by the National Planning and Economic
Development Ministry said the country's gross domestic product
for the fiscal year ending March 31, 1998 totaled 74.329 billion
kyat, equal to US$12.4 billion at the official rate of exchange,
or $256.3 million on the free market.

Per capita income for 1997-98, calculated at 1985-86 constant
price, increased 2.7 percent to 1,532 kyat (about $255 at the
official exchange rate compared to 1,492 kyat ($249) for 1996-97.

The official report attributed the lagging growth to the
disappointing performance of the agricultural sector, which
dominates the economy.