World Bank: ‘Critically weak’ outlook for Myanmar

The World Bank estimates that Myanmar’s economy shrank 18% in the fiscal year through last September, and projects just 1% growth in the 12 months to September 2022.

YANGON: The World Bank is maintaining a bleak outlook for Myanmar in the wake of last year’s military coup and the ongoing pandemic, according to its latest Myanmar economic monitor, released yesterday.

The international lender estimates that Myanmar’s economy shrank 18% in the fiscal year through last September, and projects just 1% growth in the 12 months to September 2022.