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.
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The International Monetary Fund (IMF) is projecting that Laos will see economic growth of just 2.1 percent this year, down from the 4.7 percent growth rate predicted in April.
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The lower growth rate is attributed to several factors linked to the global economic slump, triggered by the Covid-19 pandemic.
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Is Laos on the edge of an economic boom, or a bust?
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The International Monetary Fund (IMF) is predicting a favourable outlook for Laos’ economic growth in the upcoming years despite the present difficulties.
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The predicted economic slowdown in China, one of the top three foreign investors in Laos and an important trading partner, could affect the Lao economy, the government’s economic analysts have warned.
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Beijing-backed US$6.7 billion high-speed railway project threatens to bust the small nation’s already fragile finances
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