Myanmar economy to stagnate as fighting escalates at border

World Bank warns conflict in north disrupts vital trade routes with China

20231212 Myanmar Economy

World Bank said it expects little economic growth in near term (Photo by Ken Kobayashi)

THOMPSON CHAU, Contributing writer

TAIPEI -- Myanmar's crisis-torn economy is projected to grow just 1% over the year to March 2024, the World Bank said in a report published on Tuesday, as the rising resistance against Myanmar's military regime has disrupted its vast border trade.

According to the World Bank's semiannual Myanmar Economic Monitor, gross domestic product growth is expected to remain stagnant at about 2% next fiscal year.

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