Myanmar's president says country facing hardship
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Myanmar's president says the strengthening local currency is hurting the economy and garment factories face closure if the US dollar continues to weaken.
President Thein Sein's speech broadcast Thursday was the first time the president has publicly acknowledged that the country, which is run by a military-dominated government, faces economic hardship. He said to ease the crisis the government has removed export taxes on some agricultural products. He said more measures are needed. (AP)
