Weak Kip Harming Lao Economy
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.
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War in Ukraine
Developing Asia’s Economic Outlook Downgraded As China Growth Slows
The Asian Development Bank (ADB) has lowered its economic growth forecast for developing Asia including Laos to 4.6 percent this year, from 5.2 percent projected in April.
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Businesses And People Hit By Depreciating Local Currency
The value of the Lao kip has dropped significantly since last year against the backdrop of volatility in the global fuel market due to the Russia-Ukraine conflict.
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Inflation Jumps To Six-Year High Of 7.3 Percent
The year-on-year inflation rate jumped to 7.3 percent in February, the highest figure recorded in Laos since January 2016.
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Ukraine Crisis Clouds Southeast Asia’s Fragile Tourism Recovery
Travel industry figures fear the war in Ukraine could derail the much-anticipated recovery of tourism-dependent economies in Southeast Asia just as COVID-19 travel restrictions are finally being lifted across the region.
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