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Economy

Myanmar economy to grow 3% as recovery lags: World Bank

Prepandemic activity unlikely to return soon despite weaker-than-expected COVID hit

Myanmar's foreign-currency shortages will limit supplies of such imports as fuel and cooking oils, the World Bank says.

BANGKOK -- Myanmar's economy is expected to grow 3% in the fiscal year ending September, the World Bank said Thursday, underscoring a weak recovery from the previous year's sharp contraction.

"A return to prepandemic levels of economic activity in Myanmar is unlikely in the near term," the bank noted, citing the military's 2021 takeover as a factor.

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