CNI News

August 4, 2023

Although security measures of the State Administration Council had improved, the economy was still out of control, said Dr. Aung Myo, a Myanmar politic analyst to CNI News. 

Although security measures had improved, high commodity prices the public was facing and poor economy were still out of control, he said.

" The government's security measures have improved a lot in comparison with last year, but it hasn't been good at all. Those who are feeling heart disease like me have to spend a lot of money on medicine and I earn the money from the military pension, but I find it difficult to make ends meet. I'm not grunting. This is what everybody knows." he said.

selling medicines at low prices

Due to the violence between February and July in 2023, more than 800 people, including monks, nunscivil servants and innocent people, were killed, according to the statement of the meeting of the National Defense and Security Council on 31st July, 2023.

The SAC formed the union committee for stabilizing commodity prices on 27th July, aiming to make the people's livelihood okay. 

some foodstuffs

Most of the goods used in the country are imported from abroad and only when they can be produced in local, rising commodity prices can be controlled, said U Htay Aung Kyi, an economic analysts to CNI News.

"If we want to grow the economy, we must be able to export. To tell you roughly, there are two policies to grow the economy. One is to replace imports and the other is to promote exports. To promote exports is very important to a country. We have to buy most of the goods from abroad. So, demand is high and supply is low. So, as usual, the prices go up. We have to import by dollar. So, this problem will exist for long" he said.

Due to the political changes that have taken place since February 2021 in Myanmar, there have been territorial instabilities and weak securities and at the same time, economic decline, monetary inflation and high commodity prices are taking place.