The World Bank has announced that the number of poor people in Myanmar has increased by seven million. As the inflation rate and unemployment rate continue to rise, the poverty situation will continue to worsen.
At the beginning of this year, 32 percent of the population was in poverty. Myanmar’s population is set at over 54 million, 32 percent of which is over 17 million people. The economic growth rate will be less than 1 percent. During the civilian government, before the outbreak of the virus, the economic growth rate was 9 percent.
The country’s economy will continue to decline. It will be worse this year. Because of the Military Council’s conscription law, young people have left for foreign countries, and there is already a shortage of human resources in the country. In addition, due to the fighting, border trade and the flow of domestic goods have been interrupted. Compared to the same period last year, exports and imports decreased by 13 percent and 20 percent in international trade until March of this year. There are severe power outages for domestic production. The circumstances are just trivial.
