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 ….