Myanmar’s economy is deteriorating as its civil conflict intensifies, World Bank report says

BANGKOK (AP) — The World Bank says Myanmar’s economy is forecast to grow only 1% in the fiscal year that ends in March. Conditions have deteriorated recently with an escalation in fighting between the military and its opponents newly displacing more than 500,000 people. A report released Tuesday said that intensified fighting near Myanmar’s border with China has blocked trade routes, causing shortages of food and other necessities and worsening inflation that was already near 30%. The Southeast Asian country is embroiled in conflicts that deepened and expanded after the military’s seizure of power from the elected government of Aung San Suu Kyi in early 2021 prompted a wave of popular resistance.