World Bank loan will not be used for govt salary increases, says president’s office spokesperson
Government employees’ salaries will not increase despite plans to take out a loan worth US$100 million from the World Bank, aimed at covering a state deficit by separating salaries from the budget, according to government officials. Myanmar’s President Htin Kyaw sent a message on August 5 to the Union Parliament speaker about pursuing the World Bank loan in order to implement projects under the Myanmar Monetary Sector Development Plan. “If the financial sector develops, the country’s economy will also develop,” Maung Maung Win said. “$60 million can cover the state budget deficit for government servants.”
