A lot of manufacturing businesses and factories in Myanmar have closed and are closing with their workers having no chance but to return home, following surges in Covid-19 cases in the third wave. Output, new orders, purchases, employment, and postproduction inventories all fell at quicker rates, with declines that were amongst the quickest in the series history, according to
The World Bank forecasts Myanmar’s Economy to Contract by 18 Percent in FY 2021
The World Bank forecasts Myanmar’s .
The World Bank, in a report dated July 26, forecasts that the economy is expected to contract by 18 percent in 2021 Fiscal Year, which will have detrimental implications for the lives, livelihood, poverty, and future growth of the country.
The reports states that as a result of the ongoing crisis and rapidly-rising threat of Covid-19 cases, compounded on an economy that has already been weakened by the effects of Covid-19 in 2020, Myanmar’s economy is projected to contract by 18 percent. The report adds that the economy is around 30 percent smaller than it would have been without the impacts of Covid-19 and the February 1st military takeover.
Myanmar s economy expected to contract 18% in 2021: World Bank laprensalatina.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from laprensalatina.com Daily Mail and Mail on Sunday newspapers.