Myanmar Junta Admits Sanctions Strain, Eyes Economic Recovery

[geovalin]

mizzima

 

Myanmar’s military leader, Min Aung Hlaing, has acknowledged that international sanctions are significantly affecting the regime, marking a rare admission of economic strain since the 2021 coup.

 

Speaking at the “Forum on Myanmar Beyond 2025” in Naypyidaw on 21 March, Min Aung Hlaing admitted that sanctions imposed by Western nations over human rights abuses were creating major difficulties. However, he insisted that the junta was finding ways to manage the crisis.

 

“If sanctions are imposed, there will certainly be an impact,” he said. “It is true that there are difficulties, but we can manage them.”

The United States and the European Union have sanctioned key junta officials, including Min Aung Hlaing himself, along with military-linked businesses. Now, further restrictions may follow, as the International Labour Organization (ILO) moves to block the regime’s revenue sources under Article 33.

 

Despite the challenges, the junta leader remains focused on economic recovery, claiming Myanmar’s GDP stands between $60-70 billion, with a target of $81 billion in the next fiscal year. He proposed increasing exports to neighbouring countries, particularly in sectors such as footwear manufacturing, arguing that demand across Asia presents an opportunity.

 

However, with sanctions tightening and international pressure mounting, Myanmar’s economic future remains uncertain.

 

-2025-03-24

 

[Digitalbanana]

9 minutes ago, geovalin said:

Speaking at the “Forum on Myanmar Beyond 2025” in Naypyidaw on 21 March, Min Aung Hlaing admitted that sanctions imposed by Western nations over human rights abuses were creating major difficulties. However, he insisted that the junta was finding ways to manage the crisis.

Like stopping the "human rights abuses" perhaps? Nah, thought not.