Vise tightening on Myanmar’s economy 3 years after military takeover triggered civil strife

By ELAINE KURTENBACH
AP Business Writer

BANGKOK, Thailand (AP) — Myanmar was a rising star in Southeast Asia before its military seized power three years ago in a takeover that has brought civil strife and a tightening vise of international sanctions, undoing years of progress and leaving the economy 10% smaller than it was in 2019. Economists say the generals who toppled Aung San Suu Kyi’s elected government in 2021 increasingly rely on illicit revenues from gem mining and logging to fund their battles against a broad popular resistance movement. Meanwhile, export manufacturing and other mainstream business activities have languished, wiping out jobs that millions relied on to get by. The economy is forecast to grow at a meager 1% pace this year.