YANGON/GENEVA (Bloomberg): The World Bank expects Myanmar’s economy to contract in the current fiscal year, as elevated inflation, a slumping currency, and electricity and labor shortages further pressure a war-torn nation.
Myanmar’s gross domestic product in the fiscal year ending March 2025 is expected to shrink by 1% from a previous 1% growth forecast, with the aftermath of Typhoon Yagi in September exacerbating the situation, according to a World Bank report published Wednesday. The military junta put its growth estimate of 3.8%.
