Suu Kyi’s NLD has a growth problem – Nikkei Asian Review

YANGON — Aung San Suu Kyi, Myanmar’s de facto leader, made a rare admission of fallibility in a televised address to the nation on March 30. “We did what we could for the sake of our country and the people in the first year,” she said in a speech marking the first anniversary of her civilian-dominated government. “We know that we haven’t been able to make as much progress as people had hoped.” That seemed an uncharacteristic acknowledgement of a sputtering economy under her National League for Democracy-led administration. Key economic data suggest that “progress,” as Suu Kyi herself conceded, has slowed. Approved foreign direct investment is estimated to have fallen by a third in fiscal 2016, which ended on March 31, from the record $9.4 billion achieved in fiscal 2015, the last year under the government of former President Thein Sein. Annual growth in gross domestic product is expected to slow to 6.5% in fiscal year 2016, from 7.3% the previous year, according to the World Bank.