Myanmar Economic Monitor: Reforms Reversed: July 2022

Myanmar’s economy has faced a series of external and internal disruptions which have impeded recovery from the large contraction in economic activity last year. Economic growth is projected to be 3 percent in the fiscal year ending in September 2022, following an 18% contraction last year, with firm downside risks. Lessons from Myanmar’s economic history suggest that to the extent that these trends continue, investor confidence and the business environment will weaken further, constraining Myanmar’s growth potential over the longer-term.