Myanmar’s economy in crisis as civil strife disrupts trade and livelihoods

By ELAINE KURTENBACH
AP Business Writer

BANGKOK (AP) — Myanmar, once a thriving emerging economy, is struggling to regain momentum as the country’s civil war increasingly disrupts trade and livelihoods. World Bank economists estimate the country’s economy grew at a 1% annual pace in the year that ended in March, A World Bank report issued Wednesday estimates that nearly a third of Myanmar’s people are living in poverty and that the economy is about 10% smaller than before the pandemic. Pro-democracy guerillas and ethnic minority armed forces have been battling the Myanmar military after the army ousted the elected government of Aung San Suu Kyi in early 2021. The political violence has compounded the impact of the pandemic, further damaging the economy.