Many countries that were maintaining steady interest rates have decided to increase them due to rising consumer prices.
This month’s changes resulted from specific economic niches ranging from rising prices in raw resources, political instability, and an increase in tourism. COVID-19 continues to impact the economic future of certain nations as travelling restrictions are set between countries.
Economic liberalization in Myanmar over the past decade has brought significant change to the availability of goods and services in Yangon. While expatriates once shopped on home leave or R&R trips, now Mango or Nike are available at the nearest mall.
Two years ago the economy in Yangon was booming.