In February 2021 the military assumed power in Myanmar, setting back the country¡¯s democratic transition and leading to a pronounced increase in conflict. In conjunction with the effects of the COVID-19 pandemic and a sharp rise in global inflation, the aftermath of the 2021 coup has seen significant impacts on livelihoods and the economy. In 2023, GDP is estimated to remain well below pre-pandemic levels, in sharp contrast to the rest of the East Asia region, reflecting the severe demand- and supply-side constraints that continue to affect economic activity. Recent household surveys indicate that incomes have weakened while poverty has risen substantially, with coping mechanisms under increasing strain. Moreover, reversals of previous economic reforms have unwound much of the increased openness and liberalization that had been a key driver of Myanmar¡¯s strong growth over the decade to 2020. In addition to their negative impacts on household welfare, these developments have diminished Myanmar¡¯s longer-term potential to achieve inclusive growth.
ľ¹ÏÓ°Ôº has maintained its presence in Myanmar throughout this period and continues to engage with development partners, the private sector, non-government organizations, and other stakeholders. The Bank¡¯s analytical work is focused on monitoring the impacts of recent developments and assessing their immediate and longer-term implications.
This Monitoring Platform has been set up to ensure that this work is available to all interested. Please see links below.
Last Updated: Aug 22, 2023
