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Slower growth projected for Lao economy: World Bank

Economic growth in Laos is expected to be slower than forecast in April due to both external and internal factors, according to a report issued by the World Bank on Monday.  According to the World Bank, economic performance across developing East Asia and the Pacific, ...

Somsack Pongkhao

Laos Government to Resolve Debt, Fuel, Currency Crises

The commitment to stabilizing the economy was one of 13 issues the cabinet identified as requiring immediate attention during a two-day open government meeting that ended on Friday.The government resolved to use various means to try to solve the problem of public debt, especially debt created by ...

Latsamy Phonevilay

Govt aims for annual GDP growth of at least 4 percent

The government has set an annual economic growth target of at least 4 percent from now until 2025, even though there is no indication as to when the Covid-19 outbreak will be contained. The agriculture sector is expected to grow at an average annual rate ...

Somsack Pongkhao

Lao PDR: Economy Recovers then Falters Again under COVID-19

The Lao economy is on course for moderately improved growth in 2021, despite the second wave of COVID-19 denting the promising economic recovery made early in the year. The World Bank’s latest Economic Monitor for Lao PDR — A Path to Recovery —predicts that GDP ...

KPL

Laos Hopes to Pay Off USD 14 Billion Debt by 2025

Minister of Finance, Bounchom Ubonpaseuth spoke at the National Assembly’s ninth legislature recently, saying that the country plans to pay debts (foreign debt to the tune of USD 13 billion and domestic debt of USD 900 million) over the next five years, from 2021-2025, and ...

Latsamy Phonevilay

More than 84,000 people driven into poverty due to pandemic

Statistics indicate that 84,418 people are unemployed and suffering severe financial hardship across the country as a result of the Covid-19 pandemic, including many who have been laid off from jobs in other countries.The figures were obtained by village authorities after they surveyed poor and ...

Phetphoxay Sengpaseuth

New Prime Minister To Address Seven Urgent Issues in Laos

Newly-elected Prime Minister Phankham Viphavanh has raised seven urgent issues that his government will address over the next five years. When submitting a draft of the 9th five-year National Socio-Economic Development Plan for 2021-25 and State Budget Plan for 2021-25 to the National Assembly on ...

Latsamy Phonevilay

Laos, Korea crunch the numbers to launch statistics website

VIENTIANE (Vientiane Times/ANN) – Lao Statistics Bureau in cooperation with Statistics Korea yesterday officially launched the LAOSIS website (https://laosis.lsb.gov.la) to provide a convenient one-stop service for a full range of major Lao statistics.The site features easy and convenient search functions, a broad range of easy-to-comprehend ...

News Desk

Lao govt needs stronger mechanisms to minimise financial misconduct: NA

VIENTIANE (Vientiane Times) – National Assembly (NA) members on Thursday urged the government to impose proper measures to address violations involving state finances after learning that this kind of crime is common.During the debate session, which enabled Assembly members to comment on a report by the ...

Ekaphone Phouthonesy

Govt to improve working methods towards greater efficiency in Laos

VIENTIANE (Vientiane Times/ANN) – The government will improve its working methods nationwide, in the belief that this will speed up the implementation of Party and government policies, according to Prime Minister Thongloun Sisoulith. Speaking at the National Assembly last week, Mr Thongloun said improvement of the ...

Ekaphone Phouthonesy

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