Myanmar Must Avoid Resource Curse

Mar 27, 2017 | Chan Mya Htwe
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It is high time that Myanmar escape from overdependence on natural resource income, analysts have said.

“In the long run, Myanmar must escape from resource dependency.  If not, when the country gradually runs out of resources, we will have nothing left and will be like a wealthy person who has fallen on hard times,” according to U Ye Tun, a political and economic analyst who is a former MP.

Myanmar is rich in natural resources, so the state has to rely on resource revenue, and thus the state budget, including economic expenditures, are still resource-dependent.