Myanmar’s GDP grew by 3.4% in FY22-23, an improvement from the 2.4% growth in the previous fiscal year. The central bank reported FX reserves of USD 12.13 bln as of March 2023, enough to cover ten months of imports. The average inflation rate was notably high at 24.39% in March 2023, primarily due to rising fuel prices. Interest rates remained stable at 7%, with a special agricultural loan rate at 5%.