Lao government targets economic growth of 4.5 pct in 2024

23/11/2023 14:51
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KPL (KPL) Lao government, aiming for economic growth of 4.5 percent in 2024, up from the 4.2 percent forecast in 2023.

(KPL) Lao government, aiming for economic growth of 4.5 percent in 2024, up from the 4.2 percent forecast in 2023.

The Prime Minister Sonexay Siphandone delivered a speed at closing the sixth ordinary session of the National Assembly's ninth legislature on Nov 21.

During the session, the Lao government said it recognizes that the macro targets are very ambitious amid the challenges currently facing Laos, caused by both internal and external factors.

Mr Sonexay said the accumulated economic and financial difficulties Laos has suffered for several years will make it difficult to fulfil the targets set for 2024.

He added in particular, dragging the inflation rate down to the targeted 9 percent in 2024 from the current rate of almost 30 percent will be a huge challenge. Maintaining currency exchange rates at favorable levels is also a very ambitious target.

KPL

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