"In recent times, questions concerning the state of Burma?s economy have been unusually prominent. The December 2009 visit to Burma of Nobel Prize-winning economist Joseph Stiglitz, the release a few weeks later of the latest official report on post-Cyclone Nargis reconstruction, and a series of ?privatization? announcements for an array of hitherto state-owned enterprises have all drawn attention to economic conditions in one of the world?s poorest countries. So what is the state of Burma?s economy in 2010? In a word, it is grim. Among those old enough to remember, there is something of a general consensus among Burmese farmers, workers, civil servants—even former soldiers and favored entrepreneurs—that Burma?s economy is at its lowest point since the end of the Second World War. Frustration, despair, and a feeling that something has to give in a country in which its natural endowment promises prosperity, all the while its political economy serves up destitution, are near enough to universally expressed sentiments. The purpose of this paper is to examine Burma?s economy at the cusp of 2010, and to briefly look at some of the basic reforms that will be necessary to restore economic security to the Burmese people. The paper is divided into two parts—part I taking up the question of Burma?s current economic state of play, and part II addressing some of the reforms necessary for medium and long-term growth..."