Poverty Has Doubled in Burma, World Bank Says

Poverty Has Doubled in Burma, World Bank Says
People board a ferry boat in Yangon River in Yangon on March 22, 2022. AFP via Getty Images
Aldgra Fredly
Updated:

Burma’s economy remains weak, and poverty is estimated to have doubled, with internal conflicts, inflation, and rapid policy shifts complicating businesses, the World Bank said on Tuesday.

Economic growth in the military-ruled country is projected to grow 3 percent in the fiscal year ending in September 2022, following an 18 percent contraction the previous year, according to the World Bank.