Mawlamyine, October (7)
Businessmen have responded that military leader General Min Aung Hlaing’s statement that Myanmar’s economy, which has been in decline since the coup, is recovering, is completely different from the situation on the ground and makes no sense.
On October 4, the coup leader told entrepreneurs from small and medium-sized enterprises in Bago Region that the nation’s economy had rebounded and that the government would offer loans to struggling manufacturing sectors.
As a result of the coup, businesses in the country are suffering from the rise in raw material prices, the continuous depreciation of the Myanmar currency and high general expenses, and some businesses have been forced to close down.
A businessman said, “Businesses have shrunk even more as a result of the coup, and they are struggling to stay afloat. Entrepreneurs can run their businesses at less than 75% of capacity.
Businesses are currently experiencing a steady decline as a result of the Military Council’s restrictions on banking services, dollar controls, export and import sector restrictions, and mismanagement.
In this situation, the coup leader’s claim that the country’s economy has recovered is far different from the situation on the ground, and economic analysts criticize his claim that it is just a lie.
The World Bank did not predict Myanmar’s economic outlook in 2022 because Myanmar is in a downward spiral due to the military coup.
Economists consider that because the economy is related to politics, if the political problem is not resolved as soon as possible, the entire population may face a general crisis.
News – Than Lwin Times
Thanlwintimes