MT News
Regarding repayment of foreign debts of the previous governments including NLD in the time of SAC government, US$-1.495 millions of State’s earnings have been repaid without acquiring foreign and local loan assistance, SAC Chairman Senior General Min Aung Hlaing said during the meeting 9/2022 of SAC held on 11 November.
Regarding repayment of foreign debts in the time of SAC government, US$-1,495 millions of State’s earnings have been repaid. Without acquiring foreign loans and aid, such repayment could be made with the money from trading earnings, foreign investments and taxes. For the dignity of the State, foreign loans of the previous government are yearly repaid, the SAC chairman said.
This comment came after the SAC chairman told MSME entrepreneurs from Myeik District on 5 November that although previous governments received foreign loans and cash assistance, there has been nothing since SAC took office.
While the then NLD government took the office from U Thein Sein’s USDP government in the end of 2015-1016 financial year, the foreign and local loans was only Ks-27,970 billion. After five-year tenure of NLD government was overthrown, the foreign and local debuts increased up to Ks-58,256 billion in the end of 2020-21 FY, according to the Citizen’ Budget of the Ministry of Planning and Finance.
Efforts will be needed to examine the endurance loan in long-term and long-term plans are being adopted for the recovery of economy, which is shrinking, the SAC chairman said.
In the 2021-2022 FY that SAC took office, the foreign and local loans stoodKs-59,551 billion including Ks-41,341 billions of local loans and Ks-18,210 billion of foreign loan, compared with an increase of Ks-1,295 billion in 2020-2021 FY, according to the data until 31 December 2021.
