BANGKOK/YANGON -- Myanmar's economy is expected to contract by 18% this year amid deepening political turmoil following the Feb. 1 military takeover and the rapid rise of a third wave of COVID-19, according to new research by the World Bank.
The estimate, contained in the bank's Myanmar Economic Monitor report issued on Monday, is nearly double the 10% annual decline projected in March and suggests the economy could suffer further hits in coming months.
