In Myanmar, the economic crisis is worsening as the military regime struggles to control inflation and the plunging currency. Business owners trying to help their employees cope with rising prices by increasing wages are being arrested and charged with inciting public unrest by the military. At least 10 business owners have faced this fate, leading to further unrest and despair among the population.
The junta’s return to power in a 2021 coup has led to a sharp decline in economic conditions and an increase in poverty. Lack of electricity, high temperatures, and widespread poverty have made it difficult for ordinary people to survive. The country’s economy has shrunk by 9% since 2019, with a third of the population now living below the poverty line.
Despite growing isolation and economic sanctions, the junta continues to fund its war by printing money, driving up inflation, and imposing restrictions on prices and currency. The regime has also been accused of importing weapons through Thailand and collaborating with banks to evade sanctions.
The situation has led to mass layoffs, an increase in fleeing refugees, and a collapse of the currency on the black market. As the military regime struggles to maintain control, many people are suffering from high prices, food shortages, and a lack of basic necessities. The future of Myanmar’s economy remains uncertain as the crisis deepens and affects the lives of ordinary people.
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