Inflation to rise by 8 per cent in 2015

Aung Thaung announced his prediction at a press conference at the Yangon International Airport before traveling to Germany to conduct research on banking and parliamentary systems on April 19.

He joins on the 10-day trip by other members of parliament, including Phyo Min Thein.

“American’s economy is on the rise, so their currency gets stronger. In December, January, February, March and April there was a significant jump in the dollar. The whole world is affected by these fluctuations. Every country’s currency value dropped. Myanmar saw a slight move up from 5 to 8 per cent inflation. This is still a very low inflation rate compared to other countries,” he said.

“Our government bank, related ministries and bank groups are working hard. Especially since the trade deficit was revealed. The national budget needs replenishing. We are working with relevant authorities from the trade sector. Since the dollar is used by the whole world, it is very difficult to avoid using it as a standard,” said Aung Thaung.