KPL
Lao People’s Revolutionary Party Secretary General and President Thongloun Sisoulith urged swift action on the nation’s economic challenges, emphasizing that these issues "can no longer be left unaddressed.
(KPL) Lao People’s Revolutionary Party Secretary General and President Thongloun Sisoulith urged swift action on the nation’s economic challenges, emphasizing that these issues "can no longer be left unaddressed.
He spoke at the conclusion of the 9th session of the 11th tenure Party Central Committee, prioritizing the need to tackle public debt, inflation, exchange rates, and rising living costs, according to Paxason.
Thongloun called for streamlining government mechanisms to enhance public services, modernize revenue collection, and expedite repairs to infrastructure damaged by natural disasters. He also highlighted the need to train workers to meet market demands, reinforcing Laos’ aim to achieve GDP growth of 4.6 percent in 2024, driven by more efficient revenue collection, stable exchange rates, and a stronger kip.
Participants at the meeting assessed the challenges faced by Laos this year, including economic instability, high living costs, extreme weather, and drug-related issues. Despite these obstacles, the country remains on track to meet its economic goals for 2024, which will pave the way for the final phase of the 11th National Party Congress’s agenda in 2025.
The session also discussed preparations for the upcoming 12th National Party Congress, with Party congresses at district, provincial, and ministerial levels planned as preliminary steps. These congresses, held every five years, select new leaders and adopt key resolutions that guide the country’s socio-economic policies.
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