(KPL) Khammouane Province has reduced its public debt by 45 percent over the past five years, provincial officials said, marking a major improvement in fiscal management.

Authorities report that between 2021 and 2025 the province resolved debts totaling more than 1.07 trillion kip. Total debt fell from nearly 1.96 trillion kip in 2021 to about 883.5 billion kip this year.

The update was delivered by Somsaard Ounsida, chairman of the Provincial Administrative Committee, during the 10th Ordinary Session of the Khammouane Provincial People’s Assembly on December 24.

The province’s economy continued to grow in 2025, expanding by 6.2 percent, slightly above target. Gross domestic product reached 26.8 trillion kip, while average annual income rose to about 58.1 million kip per person. Over the five-year period, total GDP stood at more than 96 trillion kip, with inflation averaging just over 20 percent.

Growth was driven mainly by agriculture and food production, electricity and mining, manufacturing, transport services, and tourism.

On the fiscal side, provincial revenue over five years reached 12.6 trillion kip, exceeding planned targets. In 2025 alone, revenue surpassed expectations by 40 percent. Spending remained below plan, with most funds directed toward salaries, social support for civil servants and retirees, debt repayments, and government operations.

Officials also highlighted progress in rural development and poverty reduction. Seven districts have now been certified as poverty-free, with more than 86 percent of families lifted out of poverty. Nearly 480 villages have also been recognized as poverty-free.

Provincial leaders said infrastructure development in rural and border areas, supported by both state funding and external assistance, remains a priority as Khammouane moves toward its next development phase.

KPL