Myanmar's economy faces 1% growth, 32% poverty rate, and 18% inflation due to high costs, currency depreciation, and dollar shortage.
Myanmar's economy faces a weak 1% growth in the current fiscal year due to high food and fuel costs, currency depreciation, and a lack of dollars, according to the World Bank. The country's poverty rate has increased to 32%, with 7 million more people living in poverty compared to pre-pandemic levels. Inflation may stay at double-digit levels, with consumer price inflation expected to be 18% in the current fiscal year.
June 12, 2024
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