Economy will continue to suffer, says World Bank
The 2020-2021 fiscal year is off to a poor start, with rising poverty rates and growth estimated to be under 2%, according to the World Bank’s “Myanmar Economic Monitor.” Likewise, the poverty rate could reach 27% this fiscal year (
ADB optimistic about Myanmar growth
An updated outlook report by the Asian Development Bank (ADB) predicts a return to the pre-pandemic growth rate in the next fiscal year. Although the report (titled “Wellness in Worrying Times”) sets Myanmar’s final growth for the c
ADB drops growth forecast to 1.8%, WB to 0.5%
In a new forecast, the Asian Development Bank has predicted Myanmar’s economy to grow only 1.8% in 2020 as the COVID-19 pandemic wreaks economic havoc throughout the continent. The prediction came in a June update of the ADB’s annual Asia
State Counsellor says worst yet to come for economy
State Counsellor Daw Aung San Suu Kyi has suggested things will only get worse for Myanmar’s pandemic-stricken economy. In a panel discussion with top finance ministers, the state counsellor warned that the economic downturn will reach its lowe
IMF predicts slow growth regardless of pandemic
Myanmar should expect “subdued” economic growth thanks to its upcoming election, armed conflicts and an unstable banking sector, said the International Monetary Fund (IMF) in its annual consultation. The IMF reached these conclusions befo
