Myanmar needs to prioritize resources in Union Budget

Myanmar needs to enhance the quality and efficiency of public spending for education and healthcare, prioritizing resources in Union Budget that are critical to improve living standards and incomes of the people, said the World Bank's report Wednesday.

The World Bank Group presented a report of public expenditure review on Myanmar, which was a comprehensive analysis of country's spending policies between 2009 and 2013.

AbdoulayeSeck, World Bank Country Manager for Myanmar, said that the review is a contribution to enhanced budget transparency in Myanmar and to a vigorous local policy dialogue on Union Budget issues and highlights the challenges in building the foundation for shared prosperity.

An action plan based on the report's findings and recommendations could have a pivotal impact on the public sector's ability to promote inclusive growth, he added.

Policy reforms under previous government have increased spending for education and health care, resulting as more children are attending school and 79,000 more teachers have been hired and essential medicines and selected healthcare services available for free to children, pregnant mothers and emergency patients, according to report.

Economic recovery and long term reforms on tax policy and administration have improved general government revenue from 6 to 11 percent of GDP between 2009 and 2014. Moreover, reforms have improved and expanded access and affordability of health care financed through a nine-fold increase in Ministry of Health spending between 2009-2010 and 2013-2014.

World Bank prepared a Country Partnership Framework (CPF) for Myanmar for 2015 to 2017 to support ending extreme poverty and boosting shared prosperity in 2015.

Source: XINHUA