Overlapping Crises of COVID-19 and Coup: Impact on Myanmar Business Environment in 2021 Report

Since the military takeover on 1 February 2021, the economy of Myanmar has plunged into a deep recession. According to the Inya Economics Impact Index of the COVID-19 Pandemic and the Coup, the military coup in 2021 has brought more negative impact on Myanmar’s economy than the COVID-19 pandemic. Historically, Myanmar’s economic growth has been retarded by political instability in the country. The historical facts of Myanmar’s economic development have also shown that the political instability retarded the economic growth. After 2021, the service sector will be the main driver of the Myanmar Economy.