Urgent measures needed to ease economic difficulties

31/08/2023 13:08
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KPL (KPL) The government has urged relevant authorities to take urgent measure to address economic and financial difficulties with respect to inflation, rising exchange rates, and foreign debts. In its order issued on Thursday, the government has urged the Ministry of Industry and Commerce to take urgent measures to bring rising goods prices under control.

A food market in Vientiane

(KPL) The government has urged relevant authorities to take urgent measure to address economic and financial difficulties with respect to inflation, rising exchange rates, and foreign debts.

In its order issued on Thursday, the government has urged the Ministry of Industry and Commerce to take urgent measures to bring rising goods prices under control.

Goods prices including fresh food, rice, pork, fish, eggs, building materials and animal feed are on the rise.

The ministry is asked to promote domestic production, reduce imports, and make sure most exports are processed and valued added.

The order asks animal feed factories and fertilizer factories to ensure their production can meet 70% and 50%, respectively, of market demand in the country thus cutting production costs for domestic farms.

More efforts are needed to curb prices of goods that are likely to worsen inflation and to affect people's livelihoods.

The order also asks the Ministry of Agriculture and Forestry and relevant authorities to negotiate with exports markets sanitary and phytosanitary requirements in order to increase the export of coffee, rubber, mangoes, jackfruits, sugarcane, peanuts, frozen beef and catfish.

KPL

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