Within a year of the coup, millions of jobs were lost and the country’s economy was hit hard.
In Burma, all classes of people have been hit hard by the military coup, and the lives of the lower classes have been strained by job losses and high commodity prices.
In addition to the aftermath of the coup, Kovis was also hit by the third wave of the 19-wave.
Unemployment has risen since the military coup, and reduced working hours and wages have reduced household incomes, and exorbitant commodity prices have put pressure on people’s daily lives.
“We are spending less,” he said. This is a problem when commodity prices go up because they are lower than normal income. You do not have to work full time. Salary is deducted for days off. The main thing is not to own a house, but to live rather than eat. I am more worried about paying rent, ”said an employee who had his hours reduced.
The International Labor Organization (ILO) estimates that 1.6 million jobs will be lost by 2021 due to the Kovis-19 plague and a military coup.
The World Bank estimates that the impact on incomes and jobs will continue to weaken domestic consumer demand.
Currently, the depreciation of the kyat has pushed up the price of imported kerosene and raw materials, as well as the cost of transporting goods, raising the prices of basic commodities as well as consumer goods.
Before the coup, a gold kyat was over 13 lakh kyats, and a year later it was 187,000 kyats. The exchange rate of the dollar has risen from over 1,300 to around 2,000 kyats now, up from more than 1,600 a year later, around 600 before the coup.
1,800 tons of rice per country rose to 2,200 tons. From 2,500 kyats per pound, it has now risen to over 5,000 kyats. The price of a pound of eggplant used to be 700 kyats. It used to be around 1,000 kyats, but now it is 2,000 kyats. It has risen to 2,200. Before the coup, a 200 kyat pack of dry noodles was now 400 kyat. From 500 kyats for ten boiled beans, it is now 800 kyats.
Previously, a bag of fertilizer cost around 20,000 kyats, but now it has risen to 80,000 kyats. A bottle of Thai bath soap, which used to be only 5,300 kyats, has risen to 8,500 kyats.
A retiree said, “The pension and the high commodity prices are not enough. In the meantime, the problem is that meter prices are going up. To eat and wear Previously, I had to pay about 4,000 for the 2,000 items I got. It doubled. That’s the thing. More money is being spent. Pensions have not increased. There are such difficulties, ”he said.
Political instability due to political instability; Traffic restrictions; Obstacles Inspections also slowed the flow of goods, increased transportation costs and pushed up commodity prices. As a result, there is a huge gap between the original farmer price and the consumer price.
Weaknesses in the supply and demand portfolio continue to hamper operations and reduce agricultural output. Rising food prices and declining access to credit could worsen food insecurity, according to a World Bank report.
The World Bank estimates that the long-term aftermath of a military coup could hamper Myanmar’s long-term development, and that poverty levels are now more than doubling before the outbreak of Kovis-19.
Currently, there is instability across the country. Harvest Production chains are being affected and food security will be affected by 2022. Experts are concerned that there is a possibility that commodity prices will continue to rise.