"It's actually surprising that rebound wasn't stronger," said the World Bank's senior economist for Myanmar Kim Edwards in a press briefing.
But it stressed that its forecast"assumes that the emerging signs of stabilisation in the manufacturing and services sectors continue through most of this period, and that the impacts of conflict on economic activity do not escalate substantially further from what has been observed in recent months".
The report noted that areas where a rise in conflict has been most pronounced - Sagaing, Magway and Mandalay regions, as well as Kachin, Shan and Chin states - were responsible for about 38 per cent of total economic activity in 2019.
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