Prior to the earthquake, which left 3,800 people dead and 207,000 people displaced, the World Bank had forecast a 2% expansion this year. - AFP
YANGON: Myanmar’s economy is headed for its worst performance since the pandemic as the strife-torn country reels from the impact of a devastating earthquake in March that’s estimated to have caused US$11 billion in damage, according to the World Bank.
The 7.7 magnitude earthquake on March 28 affected more than 17 million people and wrecked widespread damages to residential buildings, public infrastructure and heritage sites in areas accounting for about one-third of Myanmar’s gross domestic product.
