Myanmar Economic Monitor, January 2022 : Contending with Constraints
Myanmar’s economy continues to be severely tested by the ongoing impacts of the military coup and the surge in COVID-19 cases in 2021. While some real-time indicators have improved in recent months, they remain consistent with a much lower level of...
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World Bank, Washington, DC
2022
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| Online Access: | http://documents.worldbank.org/curated/undefined/099125001262248277/P1770020efdd8702708f9d0c44309d295c4 http://hdl.handle.net/10986/36889 |
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okr-10986-368892022-02-01T05:11:02Z Myanmar Economic Monitor, January 2022 : Contending with Constraints World Bank CORONAVIRUS COVID-19 PANDEMIC IMPACT ECONOMIC GROWTH PRICES INTERNATIONAL TRADE FOREIGN DIRECT INVESTMENT MONETARY POLICY FISCAL TRENDS FINANCIAL SECTOR ECONOMIC OUTLOOK RISKS DIGITAL DISRUPTION INTERNET ACCESS Myanmar’s economy continues to be severely tested by the ongoing impacts of the military coup and the surge in COVID-19 cases in 2021. While some real-time indicators have improved in recent months, they remain consistent with a much lower level of economic activity than prior to the February coup. Reported COVID-19 cases have fallen to low levels (and few reported cases of the Omicron variant as of early January 2022), while real time indicators of mobility, manufacturing activity, and exports are showing signs of recovering. On the other hand, indicators of conflict suggest that the security environment has deteriorated in many parts of Myanmar, including in states and regions which have historically been relatively peaceful. This has affected businesses’ operations, logistics, confidence, and appetite to invest. After the sharp decline in incomes and employment observed across the economy, available indicators suggest domestic demand remains very weak. At the same time, supply-side constraints persist and some have worsened in recent months. Access to kyat liquidity, credit, and foreign currency remains severely constrained. A sharp exchange rate depreciation in September 2021 has raised import prices across the economy, including of fuel and other critical inputs to production, increasing transport costs. Electricity outages are a growing concern and internet disruptions continue to reduce the reliability of firms’ and households’ connectivity and ability to access information and connect with markets (see Part III: Digital Disruptions and Economic Impacts). 2022-01-31T17:02:10Z 2022-01-31T17:02:10Z 2022-01 Report http://documents.worldbank.org/curated/undefined/099125001262248277/P1770020efdd8702708f9d0c44309d295c4 http://hdl.handle.net/10986/36889 English CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank, Washington, DC Economic & Sector Work Economic & Sector Work :: Economic Updates and Modeling East Asia and Pacific Myanmar |
| repository_type |
Digital Repository |
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Foreign Institution |
| institution |
Digital Repositories |
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World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English |
| topic |
CORONAVIRUS COVID-19 PANDEMIC IMPACT ECONOMIC GROWTH PRICES INTERNATIONAL TRADE FOREIGN DIRECT INVESTMENT MONETARY POLICY FISCAL TRENDS FINANCIAL SECTOR ECONOMIC OUTLOOK RISKS DIGITAL DISRUPTION INTERNET ACCESS |
| spellingShingle |
CORONAVIRUS COVID-19 PANDEMIC IMPACT ECONOMIC GROWTH PRICES INTERNATIONAL TRADE FOREIGN DIRECT INVESTMENT MONETARY POLICY FISCAL TRENDS FINANCIAL SECTOR ECONOMIC OUTLOOK RISKS DIGITAL DISRUPTION INTERNET ACCESS World Bank Myanmar Economic Monitor, January 2022 : Contending with Constraints |
| geographic_facet |
East Asia and Pacific Myanmar |
| description |
Myanmar’s economy continues to be
severely tested by the ongoing impacts of the military coup
and the surge in COVID-19 cases in 2021. While some
real-time indicators have improved in recent months, they
remain consistent with a much lower level of economic
activity than prior to the February coup. Reported COVID-19
cases have fallen to low levels (and few reported cases of
the Omicron variant as of early January 2022), while real
time indicators of mobility, manufacturing activity, and
exports are showing signs of recovering. On the other hand,
indicators of conflict suggest that the security environment
has deteriorated in many parts of Myanmar, including in
states and regions which have historically been relatively
peaceful. This has affected businesses’ operations,
logistics, confidence, and appetite to invest. After the
sharp decline in incomes and employment observed across the
economy, available indicators suggest domestic demand
remains very weak. At the same time, supply-side constraints
persist and some have worsened in recent months. Access to
kyat liquidity, credit, and foreign currency remains
severely constrained. A sharp exchange rate depreciation in
September 2021 has raised import prices across the economy,
including of fuel and other critical inputs to production,
increasing transport costs. Electricity outages are a
growing concern and internet disruptions continue to reduce
the reliability of firms’ and households’ connectivity and
ability to access information and connect with markets (see
Part III: Digital Disruptions and Economic Impacts). |
| format |
Report |
| author |
World Bank |
| author_facet |
World Bank |
| author_sort |
World Bank |
| title |
Myanmar Economic Monitor, January 2022 : Contending with Constraints |
| title_short |
Myanmar Economic Monitor, January 2022 : Contending with Constraints |
| title_full |
Myanmar Economic Monitor, January 2022 : Contending with Constraints |
| title_fullStr |
Myanmar Economic Monitor, January 2022 : Contending with Constraints |
| title_full_unstemmed |
Myanmar Economic Monitor, January 2022 : Contending with Constraints |
| title_sort |
myanmar economic monitor, january 2022 : contending with constraints |
| publisher |
World Bank, Washington, DC |
| publishDate |
2022 |
| url |
http://documents.worldbank.org/curated/undefined/099125001262248277/P1770020efdd8702708f9d0c44309d295c4 http://hdl.handle.net/10986/36889 |
| _version_ |
1764486121105915904 |