ADB sees Myanmar economy to grow 7.8pc in next 2 years

YANGON, Apr 7 (Xinhua): Myanmar's economic growth is expected to pick up to an annual rate of 7.8 per cent for the next two fiscal years (2014-15 and 2015-16), according to the press release of Asia Development Bank (ADB) available here Monday.

The country's economic growth for the fiscal year 2013-14 which ended in March is estimated at 7.5 per cent, the release quoted ADB's latest Asian Development Outlook as saying.

A recent ADB study noted that the country could reach upper middle-income status by 2030 if it overcomes development challenges, but currently about 25 per cent of the population live below the national poverty line.