The rise in price of imported fuel means that retail prices in Laos will inevitably continue to rise.
The price of oil is factored into the cost of production, meaning that product prices will also rise.
Lao Airlines – the national flag carrier – has decreased domestic flights to balance its revenues and expenditure.
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Attempts to increase the minimum wage are meeting with resistance because of the impacts on businesses caused by the Covid-19 pandemic.
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The World Bank has predicted that Laos will see economic growth of 4.5 percent in 2022 and 4.8 percent in 2023 despite projected slower growth of the global economy.
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The unanticipated Covid-19 pandemic has delayed economic recovery in Laos, with consumption hit hard by the virus control measures implemented since April
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