“Most importantly, more inbound flights should be started and the number of countries eligible for visa-free travel should be increased.”Read more
The Asian Development Bank (ADB) believes the Lao economy will see a gradual recovery next year, supported by new investment and higher renewable energy and mining output.Read more
The IMF’s downgraded growth for Laos is linked to both external and internal factors, with the report forecasting that global growth will decrease from 6.0 percent in 2021 to 3.2 percent in 2022 and 2.7 percent in 2023.Read more
The currency devaluation is having a damaging effect on the Lao economy, driving up the price of products and creating more hardship for the poor.Read more
The government has vowed to further address mounting public debt and the vulnerability of the macroeconomy to prevent the country from being dragged into default.Read more
The Asian Development Bank (ADB) has lowered its 2022 economic growth outlook for Laos to 2.5 percent from 3.4 percent projected in April and to 3.5 percent from 3.7 percent for 2023.Read more
The main importing countries of Laos include Thailand, China, Vietnam, the United States, and Japan.Read more
The year-on-year inflation rate hit 23.6 percent, the highest figure ever recorded since May 2000.Read more
The premier said changes to the quantity of vehicles, alcoholic beverages and other imported luxury items would be considered, so that shrinking foreign currency reserves could be kept for essential goods.Read more
The Lao government will aim for Gross Domestic Product (GDP) growth of at least 4.4 percent over the last six months of this yearRead more
Inflation in Laos has surged higher than the projected rate for the Gross Domestic Product (GDP), sparking fears among many people regarding the impact on their living standards.Read more
China topped the list of five main countries for exports with a figure of US$ 2,221 million, and the others were Thailand (US$ 2,187 million), Vietnam (US$ 1,220 million), Australia (US$ 348 million), and Switzerland (US$ 116 million).Read more
The prices of goods and services in Laos continue to rise at a rate unseen since August 2020, increasing by 5.27 percent in December last year when compared to the figures for the same period in 2020.Read more
The government is set to hold talks with business operators to encourage them to produce more of the goods required by Chinese buyersRead more
The government has vowed to reduce the total public and publicly guaranteed debt stock to 64.5 percent of Gross Domestic Product (GDP) by the end of 2023.Read more
This year’s Covid-19 outbreak has deepened the impacts on Laos’ economy, resulting in business shutdowns, growing health concerns, and falling sales.Read more
Not counted is the cost in damage to the country’s environment and Lao citizens’ loss of homes and livelihoods, experts say.Read more
Laos registered a record low trade deficit of US$24 million in August compared to the previous records of the year, with the two-way trade value amounting to US$880 millionRead more
The escalating deficit will ramp up the government’s public debt burden, posing challenges for Laos in sourcing more funding to address the shortfall.Read more
While economic growth in the Lao PDR contracted in 2020 for the first time in over two decades, the economy is set to recover in 2021 and in the medium term, provided the impact of the COVID-19 pandemic is contained and business can resume with trading partnersRead more
The government is optimistic that the economy will grow by 4-4.5 percent next year despite complex global changes and Laos’ financial difficulties.Read more
Laos is undergoing an unprecedented level of macroeconomic stress and the pandemic has worsened an already fragile economic landscape.Read more
Fitch Ratings has downgraded Laos’ rating to “CCC” from “B-,” meaning that the Southeast Asian nation faces “substantial credit risk” and that default is a “real possibility,”Read more
An elevated fiscal deficit will result in growing public debt, which will ramp up pressure on the country’s debt servicing capacity amid the Covid-19 crisis.Read more
The Lao PDR has so far avoided a major health crisis but has not been immune from the global economic downturn as the COVID-19-induced economic recession has affected the country through multiple channels including tourism, trade, investment, commodity prices, exchange rates, and lower remittances.Read more
Laos will not be able to achieve the target for tax collections this year due to the Covid-19 crisis and the implementation of the adjusted new tax law.Read more
Between 96,000 and 214,000 additional people are estimated to fall into poverty as a result of the pandemic, jeopardizing past gains.Read more
Laos will be hard-pressed to meet its external debt obligationsRead more
Laos is expecting tourism revenues to fall by at least US$350 million (3,111 billion kip) this year with the sector to cut 2 percent off the nation’s gross domestic product (GDP).Read more
Economic growth in Laos has slowed as production and consumer spending drop amid fears of a spread of the coronavirus, with growth expected to shrink by about 50 percentRead more
The injection of bank credit into the economy continues to slow despite government measures to improve the investment climate for the private sector.Read more
The economic growth rate of Laos is high compared to neighbouring countries and some regional peers, however, this has not seen poverty reduction in the country.Read more
The nation’s economic growth is likely to be sustained this year and accelerate next year, while inflation will edge up according to the Asian Development Bank (ADB).Read more
New project proposals for 2018 submitted by State sectors and provincial authorities threaten to incur costs higher than the government’s financial capacity, a senior official has noted.Read more
Revenue shortfall is likely to force the government to maintain state investment in 2018 at the same level as this year, which will pose a challenge in achieving next year’s economic growth target, according to a government report.Read more
Laos’ economic growth is picking up in 2017 and 2018, supported by the expansion of production and sale of electricity, buoyant services sector growth, and construction of the cross-border railway, according to a new report from the Asian Development Bank (ADB).
Gross Domestic Product (GDP) growth for Laos is forecasted to reach
The International Monetary Fund (IMF) has predicted that Laos’ Gross Domestic Product (GDP) will grow at 6.8 percent this year, less than the government’s projected rate of 7 percent.
The IMF Executive Board concluded the Article IV consultation  with Laos recently, describing Laos’ challenges in dealing with the current account deficit, falling foreign currency reserves, and growing ….
Economists warn that Laos will need to take a proactive approach to attract foreign direct investment if the country is to sustain economic growth of 7.5 percent annually over the next five years.
According to a recent government report, Laos will need about 223 trillion kip (US$27 billion), equal to 30 percent of Gross Domestic Product (GDP), over the period ….