Per Capita GDP expected to increase from 1,000 USD to 1,200 USD this year
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Khit/ Myo Gyi (NP News) – April 7
National Planning Law (2022-2023 FY) passed on a recent day by the State Administration Council states the country expects to increase the Per Capita GDP for this fiscal year from an estimated 1,080 USD to 1,200 USD (with the ER 1,850 MMK for one USD).
The SAC enacted the National Planning Law (2022-2023 FY) on March 31. The law has come into force since April 1.
Plans and projects for relevant sectors are expressed in the law. Target objectives in each sector for the respective state/region or the economy of the country as a whole within a specific timeframe were described in the law.
This fiscal year is projected to expand the Gross Domestic Product by 3.7 percent as per nominal price while the Per Capita GDP is expected to increase from an estimated 1,000 USD to 1,200 USD as per the real price, as stated in the national planning law.
Per Capita GDP was projected to increase from an estimated 1,200 USD to 1,300 USD as per the real price in last year's national planning bill (2020-2021 FY)
Under the current National Planning Law, the share of the agricultural sector is projected to increase from 22.9 percent to 22.7 percent; the share of the industrial sector is projected to increase from 37.1 percent to 37.4 percent, and the share of the service sector is projected to increase from 40.0 percent to 39.9 percent respectively.
SAC is making its steadfast effort to uplift the local businesses and will be focusing on manufacturing and services to support economic growth; social welfare and food security will also be prioritized, Senior General Min Aung Hlaing told at a meeting of the National Planning Commission.