World Bank Sees Myanmar’s Economy Shrinking on Conflict, Quake

Myanmar’s economy will contract this year amid civil war and ongoing drag from a March earthquake, according to the World Bank, which sees growth also constrained by weak domestic demand, labor shortages and frequent power outages.

The Washington-based development lender projected Myanmar’s gross domestic product will shrink by 2% in the year ending March, compared with its previous estimate for a 2.5% contraction. That’s in contrast to the military government’s growth forecast of 3%.