Economy of Myanmar

The Economy of Myanmar is the seventh largest in Southeast Asia. After the return of civilian rule in 2011, the new government launched large-scale reforms, focused initially on the political system to restore peace and achieve national unity and moving quickly to an economic and social reform program. Despite the great potential that Myanmar's economy possesses, in order for the country to achieve its economic transition, considerable investments will have to be made in infrastructure and developing human capital, and progress made on building institutional capacity, a regulatory environment for the private sector to flourish, and a modern finance sector. Current economic statistics were a huge decline from the economic statistics of Myanmar in the fiscal year of 2020, in which Myanmar’s nominal GDP was $81.26 billion and its purchasing power adjusted GDP was $279.14 billion. The cause of the deterioration in the economy is due to the 2021 coup d’état by the Tatmadaw (armed forces) after they claimed that the elections were fraudulent. Myanmar's economy has been in economic crisis since the coup d’état in 2021.