Myanmar’s economy fragile as fighting, inflation hit poor | World News,The Indian Express

Conditions have improved since last year, right after the military ousted the elected government of Aung San Suu Kyi, but the country remains a long way short of a recovery.

Army-ruled Myanmar’s economy remains fragile as civil strife, inflation, and onerous policy decisions add to troubles facing farmers and businesses, reports by the World Bank and other experts said Thursday.

Conditions have improved since last year, right after the military ousted the elected government of Aung San Suu Kyi, but the country “remains a long way short of a recovery,” said Kim Alan Edwards, a senior World Bank economist.

“The economy really remains fragile,” he said.

Myanmar is one of several countries in Asia, also including Sri Lanka and Laos, whose economies are imperiled by soaring prices and weaker currencies. A military takeover in February 2021, on top of the pandemic, has reversed a decade of reforms and strong economic growth, leaving 40% of the population living in poverty.

“Inequality is estimated to have worsened, with those already poor falling into deeper destitution,” the World Bank said in its latest update.

https://indianexpress.com/article/world/myanmars-economy-inflation-fighting-8043445/

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