Economic and Myanmar

I frankly admit  Myanmar was one of the least developed countries. Thus, after election of 2015, the Democratic Party called " NLD" won  in that election and formed as the official democratic government or public government led by Aung San Suu Kyi ,Noble laureates at 1992. After they led for 1 year , they have been trying to develop all sorts of fields such as economics, education, democracy affairs, social welfare in country. Now Myanmar is a gradually developed country since 2015 and I believe it will develop more and more in coming years.

Myanmar has an estimated population of 51.4 million, consisting of diverse ethnic groups speaking over 100 languages and dialects. It is ranked 150 out of 187 countries on the Human Development Index. Economic growth has averaged 5 percent in recent years with a per capita income of USD $702.

Myanmar, formerly known as "Burma" has existed for centuries. Myanmar was organized as a strong union in the early 11th century (Bagan Period) by King Asawrahta. It is generally referred to as the first Union of Myanmar. In the middle of the 16th century, King Bayintnaung established the second Union of Myanmar that used to be one of the mightiest countries in Asia. Myanmar was thirdly unified in 1752 by King Alaungphaya, the founder of the last dynasty of Myanmar. The country was occupied by British in 1885 and gained Independence in 1948.

After being under military rule for fifty years, Myanmar’s transition to civilian rule started under a new Constitution that came into effect in May, 2008. The transition to civilian rule under the new Constitution was the first step in an on-going series of rapid and far-reaching political and economic reforms.

Myanmar’s economy largely depends on natural resources and agriculture. Inadequate infrastructure, limited “know-how” and administrative constraints have stifled the manufacturing sector.

Poverty levels are at an estimated 26% of the population. Poverty is twice as high in rural areas where 70% of the population lives. The remote border areas, mainly populated by Myanmar’s minority ethnic groups, and areas emerging from conflict are particularly poor.

Myanmar has made notable progress in poverty reduction. The Government’s target to reduce poverty from 26 per cent in 2010 to 16 per cent by 2015 appears to be achievable because of good performance in recent years, accelerated reforms in economy, and assistance from development partners.

Reference - UN

Aung Myo Htun ( Kelly)

Myanmar