Myanmar Moves Forward?

Myanmar is rarely out of the news for long. Obama has visited the country twice since 2011, most recently this month for the 9th annual East Asia Summit. Beneath the veneer of a nation in transition, on the road to a prosperous future, lies a people deep in poverty, struggling to make a living, some even struggling to make it through a single day. The commercial capital, Yangon, is in the midst of a construction boom, yet there are clear signs of lopsided and uneven development. In downtown Yangon foreign investments and tourist arrivals are pushing up land prices.

The World Bank estimates that the country’s 56.8-billion-dollar economy is growing at a rate of 8.5 percent per year. Natural gas, timber and mining products bring in the bulk of export earnings. Still, per capita income in this nation of 53 million people stands at 1,105 dollars, the lowest among East Asian economies.

The richest people, who comprise 10 percent of the population, control close to 35 percent of the national economy. According to the World Bank’s country overview for Myanmar, “A detailed analysis – taking into account nonfood items in the consumption basket and spatial price differentials – brings poverty estimates as high as 37.5 percent.” The country’s poor spend about 70 percent of their income on food, putting serious pressure on food security levels.The World Bank estimates that at least 32 percent of all children below five years of age in Myanmar suffer from malnutrition. More than a third of the nation lacks access to electricity. The national unemployment rate, especially in rural areas, could be as high as 37 percent according to 2013 findings by a parliamentary committee. Over half the workforce is engaged in agriculture or related activities, while just seven percent is employed in industries.

Taken from IPS