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Myanmar's economy to shrink as floods compound crisis, says World Bank

Channel News Asia LogoChannel News Asia2w ago

Myanmar's economy to shrink as floods compound crisis, says World Bank - Channel News Asia

Quick Summary:

Myanmar's economy is expected to shrink by 1 per cent in the current fiscal year, the World Bank said on Wednesday, sharply downgrading its economic forecast as severe floods compounded the challenges facing the conflict-torn country.

"Even assuming no further escalation in conflict, growth is expected to remain subdued the following year," the World Bank said.

The coup abruptly ended a decade of tentative democratic and economic reform in Myanmar, with Western investors pulling out of the country and sanctions disrupting trade.


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Article Details

Category: EconomyBusiness

Markets:

Topics:

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-12-11 @ 11:56:27 (2 weeks ago)

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Article Length: 444 words

Reading Time: 3 minutes read

Sentences: 16 lines

Sentence Length: 28 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Channel News Asia

News ID: 24346386

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About Channel News Asia

Channel News Asia Logo

Main Topics: EconomyBusiness

Official Website: channelnewsasia.com

Update Frequency: 3 posts per day

Year Established: 1999

Headquarters: Singapore

News Last Updated: 7 hours ago

Coverage Areas: Singapore

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Local / Regional

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #27

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  • URL: https://beamstart.com/news/myanmars-economy-to-shrink-as-17338903006534

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