World Bank sees ‘critically weak’ outlook for Myanmar this year

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 on Wednesday.

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. Myanmar’s economy could have been 30% larger without the twin blows of the pandemic and coup, the report said.

“While reflecting recent signs of stabilisation in some areas, the projection remains consistent with a critically weak economy,” the World Bank said in a press release…