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Myanmar’s poverty to be reduced down to 16 % in 2014-2015

MYANMAR’S POVERTY TO BE REDUCED DOWN TO 16 % IN 2014-2015
Date: 18/09/2013
Source: Eleven
Myanmar’s poverty to be reduced down to 16 % in 2014-2015

According to the UN Economic and Social Commission for Asia and the Pacific (UN-ESCAP) data, the poverty rate was 32 percent before 2010. In 2011, it declined to 26 percent. In order to improve economic development of Myanmar, Myanmar is drawing up strategies in political, economic, administrative, and private sectors to reduce its poverty to 16 percent in coming 2014-2015.

Myanmar is a country which gets less income and the capital investment is poor. We have shortages in electric, drinking water, and sanitation. Infrastructures such as health, education and other sectors have weaknesses. About 70 per cent of Myanmar’s population engages in agriculture and animal husbandry. Therefore, in order to improve the rate of productivity, the rural area development and their economic development is more important. There is a connection between rural area development and poverty reducing, said Deputy Director Mya Than of Ministry of Cooperatives.

Since the new government had taken office for 30 months, changes to political, economic, administration and private sectors have been carried out for paving the way to democratic society. The government is now giving more priority in people-centered socio- economic development such as electricity, drinking water, water for agriculture, small and medium enterprises, and industrial zones during the remaining 30 months.


Topic: Economy
Did You Know?
The name Myanmar is derived from the local name Myanma Naingngandaw, which is a name used by the governent which is currently in power there. While the real meaning of the name is not clear, it is interesting to note... ... More

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COUNTRY SNAPSHOT
GDP 2010 USD 45.4 B
GDP 2012 USD 54.0 B
Inflation 9.13 %
Unemployment Approx. 35%
GDP growth 2011 5.5 %
FDI 2011 USD 1.05 B
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