Party spending won’t have any positive effects on Lao economy
VIENTIANE (Vientiane Times/ANN) – Splurging on unnecessary luxury items and entertainment during Lao New Year will not create any positive lift for the Lao economy as the country is heavily dependent on imported products, a senior economist says.
With Laos heavily dependent on imported products, it has to pay a great deal of money to its trading partners but the value of exports remains low and, like other nations, it has to contend with global economic disturbances.
News Desk
