The country's economy has not progressed as much as it should have due to the pressure exerted by some big nations: SAC Chair

News

Published 9 November 2023

EMG

Chairman of the State Administration Council (SAC) Senior-General Min Aung Hlaing sent a message of felicitation to the ceremony to mark the 68th Anniversary of Kayin State Day that falls on November 7.

He said that due to the pressure exerted by some big nations, local and foreign trade was affected and the country’s economy was not developed as it should be.

SAC has set an ultimatum mission to hold a free and fair multiparty democratic general election. Hence, the government will emphasize holding a general election and strengthening the democratic system. He added that people from the States/Regions need to cooperate for the stability and development of the nation.

With regard to the Nationwide Ceasefire Agreement-NCA, the Senior General unveiled that as the State Peace Talks Team have held peace talks with seven NCA signatory ethnic armed organizations and three NCA non-signatory EAOs, it is expected to come out with good results for peace processes.

He said, if we look at the economy of the country, there are local and foreign economies. As a result of COVID-19 pandemic, productions were few and difficulty occurred in transportation sector. Similarly, due to the pressure exerted by some big countries, local and foreign trade was affected and it also affected on the country’s economy. In 2019-2020, GDP was minus 5.9 percent, and in 2021-2022, it was above plus 3 percent. But, roads, electric towers, public buildings and bridges were destroyed in that period and budget which should be used for the development of the country was used for rehabilitation works.

In upgrading of nations’ economy, agriculture and livestock breeding sector has been encouraged for the success of production and economy. Senior General urged that it is important to operate MSME businesses based on agriculture and livestock farming tasks. If these businesses can merge with technology and can produce value added products, it will be more beneficial for the country. By implementing MSME in entire Myanmar, socioeconomic lives of the people will be improved, he added.