"The growing budget deficit will require more domestic loans to the government over the next few years, increasing strain on local debt markets, according to experts. While authorities are attempting to boost tax collection efforts in a bid to cut the deficit, which may grow to over 5 percent of GDP this year, it is likely that debt financing will continue to be required to meet budget needs. The Central Bank of Myanamr restarted auctions of government bonds this year for the first time in the civilian government era, though had previously conducted debt sales. Finance Minister U Win Shein said the ministry routinely rounds out the government budget with use of loans from domestic sources. The government owed domestic loans worth K10.8 trillion (US$10.4 billion) as of September last year, an increase on K9.94 billion in 2011-12. Foreign debt is currently worth about $9.4 billion, according to statistics from the Ministry of Finance..."