Middle class 'rapidly eroding' as poverty soars in Myanmar, UN says

Underscoring the erosion of the middle class in a country ravaged by violence and ruled by the junta, the new report from the United Nations Development Program says 49.7% of Myanmar's population lives on less than 1,590 kyats, or 75 US cents, per day.

AFP

April 12, 2024, 9:20 p.m.

Last modification: April 12, 2024, 9:24 p.m.

People are seen at a market after the military seized power in a coup in Yangon, Myanmar February 2, 2021. REUTERS/Stringer

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People are seen at a market after the military seized power in a coup in Yangon, Myanmar February 2, 2021. REUTERS/Stringer

Nearly half of Myanmar's population, around 55 million, lives below the poverty line, a figure that almost doubled between 2017 and 2023, according to a UN report on Thursday.

Underscoring the erosion of the middle class in a country ravaged by violence and ruled by the junta, the new report from the United Nations Development Program says 49.7% of Myanmar's population lives on less than 1,590 kyats, or 75 US cents, per day.

This figure was 24.8% in 2017.

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“The situation will probably have deteriorated further by the time this report is published,” predicts the UNDP gloomily. “By October 2023, an additional 25% of the population was hanging by a thread, just above the poverty line.”

Since last fall, clashes have intensified between the army and armed ethnic minority groups, forcing hundreds of thousands of people to flee, losing their sources of income.

Additionally, the Southeast Asian country has failed to recover from a 17.9% drop in gross domestic product in 2021, when the government of leader Aung San Suu Kyi was ousted of power by the army and that the Covid pandemic was still a factor.

“A middle class capable of cushioning shocks and helping a country recover more quickly is rapidly eroding, with a return to poverty,” UNDP said.

“New data shows that less than 25% of Myanmar's population manages to obtain stable income to live above the poverty line,” UNDP chief Achim Steiner said in a statement.

“Without immediate interventions to ensure cash transfers, food security and access to basic services, vulnerability will continue to grow and the impacts will be felt across generations,” Steiner warned.

The UNDP estimates that the country would need $4 billion a year to fight poverty, through cash transfers and other means.

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