He said some industries, such as military hardware production and agriculture, are even growing.

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Economists say the government stuck with the system because it allowed officials to muddle the country's accounting and effectively keep two sets of books, making it easier hide revenue that could be diverted to other needs, such as military hardware, and to line the pockets of officials.

WSJ: Myanmar Announces Currency Reform

Economists say the government stuck with the system because it allowed officials to muddle the country's accounting and effectively keep two sets of books, making it easier hide to revenues that could be diverted to other needs, such as military hardware, and to line the pockets of officials.

WSJ: Myanmar Announces Currency Reform

Security analysts have noted a marked shift in India's acquisitions of military hardware, from conventional land-based systems to means of power projection such as airborne refuelling systems and long-range missiles.

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