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Burma’s Economy: Mismanagement as Usual

By Altsean-Burma  •  November 4, 2011

Contrary to the regime’s rhetoric of substantial economic reform, the Burmese economy remains hostage to the same oppressive and misguided economic policies that have stunted its development for decades.

The military continues to control the bulk of the budget, with no improvement in transparency. The regime also maintains a dual exchange rate system in order to siphon off funds into private accounts, starving the national budget of official revenue and inflating the fiscal deficit.

A process of privatization that began in late 2009 has facilitated the transfer of key economic assets in the hands of cronies while lining the pockets of regime officials. In addition, the regime continues to confiscate land and ignore the property rights of Burmese citizens in favor of foreign investors and cronies.

Despite the suspension of the Myitsone dam project, numerous large scale infrastructure projects continue to spur tensions in ethnic areas, cause massive displacement, and threaten the environment.

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This post is in: Aid, Economy

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