Myanmar Government seeks $500m to cover forex losses
Inflation, flood relief and the depreciation of the kyat against the US dollar have prompted parliament to consider a government request for almost US$2 billion in supplementary funding for the current fiscal year. The additional cash, however, poses significant risks of overheating the economy by further fuelling inflation and driving up the budget deficit.
The supplementary budget bill would add about K2.5 trillion ($1.92 billion) to the current budget of K23 trillion, an addition of 11.1 percent.
