CNI News

24 April 2024

Commodity price and currency value must be stabilized within Myanmar, said Sr-Gen Min Aung Hlaing, chairman of the State Administration Council, at the union cabinet meeting held on 22nd April, 2024.

The State was making efforts to ensure that there were stability, peace and rule of law within the country and that the prices of foodstuffs and basic consumer goods were reasonable and that the currency value of the country was strengthen, he said.

The country had already had good soil and water and human resources. However, the country had some difficulties because it had been sanctioned economically; trade routes had been closed; stabilities had been damaged and the flow of goods had been delayed or closed, said Sr-Gen Min Aung Hlaing.

" If these difficulties could be overcome, trade would improve and the country's economy would improve. As a result, currency values of Myanmar could also rise. As a country, its currency value needs to be stable at a reasonable rate." he added.

Although Myanmar was conducting border trade with China, Thailand, India and Bangladesh, but now because of battles, almost all the border trades have been suspended.

In the same way, there has been an international economic sanction on Myanmar and  it has been blocked to access foreign currency.

So, commodity prices have become higher and higher and at the same time, the value of the Myanmar kyat is also falling.