US EditionMarch Quake to Drive 2.5% Drop in Myanmar GDP, Says World Bank
- On June 12, the World Bank reported that Myanmar's economy will contract by 2.5% in the 2025/26 fiscal year due to a 7.7-magnitude earthquake in late March.
- This economic downturn follows ongoing turmoil after the 2021 military coup and civil conflict, with the earthquake causing extensive infrastructure damage and exacerbating existing hardships.
- The quake affected over 17 million people, killing more than 3,700 and causing US$11 billion in damages, which equals 14% of Myanmar's GDP and heavily impacted regions like Mandalay and Naypyidaw.
- The World Bank cautions that the most severely affected areas could see a decline in production by as much as 33% shortly after the earthquake, while the national poverty rate is projected to increase by 2.8 percentage points from the pre-quake level of 31%.
- The report emphasizes the critical importance of implementing recovery initiatives to assist vulnerable groups and restore infrastructure, as economic challenges persist amid ongoing conflict and rising inflation.
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Myanmar recovery dented by devastating quake
NAY PYI TAW — Myanmar’s economy is headed for its worst performance since the pandemic as the strife-torn country reels from the impact of a devastating earthquake in March that’s estimated to have caused US$11 billion in damage, according to the World Bank.
Myanmar's Economic Woes Deepen Amid Earthquake Devastation | Science-Environment
The World Bank reports that a massive 7.7 magnitude earthquake has gravely impacted Myanmar's economy, forecasting a 2.5% contraction in the 2025/26 fiscal year. The quake caused over $11 billion in damages, further exacerbating economic challenges in a nation already struggling due to political turmoil.
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