Economic growth reaches 4.7%

10/06/2024 13:53
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KPL (KPL) Prime Minister Sonexay Siphandone has said that the economic growth in the past six months of the current fiscal year was estimated at 4.7%, higher than 4.5%, the target approved by the National Assembly.

Prime Minister Sonexay Siphandone at the 7th Ordinary Session of the National Assembly's (NA) 9th Legislature on June 10.

(KPL) Prime Minister Sonexay Siphandone has said that the economic growth in the past six months of the current fiscal year was estimated at 4.7%, higher than 4.5%, the target approved by the National Assembly.

Over the past six months, revenue collection has been achieved at 25.9 trillion kip, equivalent to 52% of the annual plan with domestic revenues amounting to 24.1 trillion kip, accounting to 54% of the plan, PM Sonexay told the 7th Ordinary Session of the National Assembly's (NA) 9th Legislature on Monday.

The PM said that the government has focused on revenue collection using various measures to reduce loopholes and improving legislations on revenue collection. 

The first half of the year witnessed agriculture growing at 4.3%, industry jumping by 4.2%, and services up by 5.7% compared to the same period last year

Trade has shown strong growth in the last six months, yielding a trade surplus of 331.28 million US dollars.

In an effort to address drug issues, over the past six months, the government has arrested over 2,600 drug traffickers and confiscated a large amount of narcotics including ice (crystal methamphetamine), heroin, cannabis, opium, ketamine, cocaine, caffeine confiscated along with weapons and explosive substances.

KPL

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