TAIPEI/YANGON -- Myanmar's crisis-ridden economy is expected to grow 3% in the fiscal year ending September, leaving it well below levels reached before the military takeover two years ago, the World Bank said in a report released on Monday.
The bank said there has been substantial volatility for the economy in recent months, while risks and uncertainty continue to weigh on the outlook. Notably, exchange rate depreciation, combined with logistics constraints, has resulted in higher prices, pushing up the inflation rate to nearly 20% over the year to July. It also said that in addition to surging construction costs, significant electricity shortages and the regime's regulations have hurt economic activities.
