President Calls for Concerted Effort to Address Economic, Financial Difficulties

16/07/2024 15:42
Email Print 1800
ຂປລ (KPL) President has called on the entire Party, state, armed forces, and all Lao people to focus on resolving the economic and financial difficulties the country is facing, promote unity, and to consider the Party’s resolution on Independent and Self reliant Economy as a guiding principle.

(KPL) President has called on the entire Party, state, armed forces, and all Lao people to focus on resolving the economic and financial difficulties the country is facing, promote unity, and to consider the Party’s resolution on Independent and Self reliant Economy as a guiding principle.

In the first Open Government Meeting of 2024, Party General Secretary and State President Thongloun Sisoulith gave a guidance talk to government officials amidst a complex international and domestic environment.

The meeting was convened against a backdrop of global instability and economic challenges. Internationally, the world is experiencing political, economic, and financial upheaval. Domestically, the Lao PDR is facing severe economic and financial difficulties, which have become a significant concern for both the government and the people.

The fluctuating exchange rates, depreciation of the Lao kip, inflation, and rising cost of living are primary issues that have led to increased prices for goods and services. This has put immense pressure on the government as it is striving to maintain stability and address these pressing issues.

Government's Response and Strategies

President Sisoulith emphasized the importance of the government's swift and effective response to these challenges. He highlighted that although this was a regular meeting, the timing and urgency of the current situation required thorough discussions and decisive actions.

“The government must seek solutions, establish accurate measures, and implement them with diligence and accountability,” said President Thongloun Sisoulith.

The meeting's agenda included brainstorming and exploring solutions to the nation's problems, setting priorities, and ensuring the coordinated efforts of various sectors and local authorities. The President called for high responsibility and relentless effort to address the pressing issues.

Recognition of Efforts and Achievements

President Sisoulith commended the government's efforts and achievements, as well as the support from the Lao People's Revolutionary Party, various political organizations, and the Lao people. Despite the difficulties, significant progress has been made in several areas, such as production, services, revenue collection, and debt management.

The country's economic growth rate in the first six months reached 4.7%, demonstrating resilience and potential for further improvement. These positive signals constitute a foundation for continuing the government's plans and addressing the remaining challenges.

Focus on Key Issues

One of the most pressing issues discussed was the poor management of exchange rates between hard currencies and the Lao kip which had led to constant depreciation of the national currency. The fluctuating value of the currency has led to increased financial instability, impacting the overall economy. The Central Party Committee has identified this as a critical issue that requires immediate attention and comprehensive solutions.

KPL

ຂ່າວອື່ນໆ

    • General Secretary Thongloun Meets Vietnamese CounterpartPolitics

      General Secretary Thongloun Meets Vietnamese Counterpart

      4/3/2025 10:22:57 PM

      Party General Secretary and State President Thongloun Sisoulith met with General Secretary of the Communist Party of Vietnam To Lam on the occasion of his visit to Laos to pay respects to the late General Khamtay Siphandone, former President of the Party Central Committee and former President of Laos, who passed away on April 2, 2025.

    • Wreaths Laid in Honour of Former President Khamtay SiphandonePolitics

      Wreaths Laid in Honour of Former President Khamtay Siphandone

      4/3/2025 5:04:32 PM

      On April 3, 2025, a delegation from the Lao People’s Revolutionary Party (LPRP) Central Committee, led by General Secretary and State President Thongloun Sisoulith, gathered in Vientiane to pay their respects to former President Khamtay Siphandone.

    • CPC General Secretary Sends Condolence Message on Former President’s PassingPolitics

      CPC General Secretary Sends Condolence Message on Former President’s Passing

      4/3/2025 4:32:14 PM

      On April 2, 2025, General Secretary of the Communist Party of China (CPC) Central Committee and President of China, Xi Jinping, sent a message of condolences to General Secretary of the Lao People’s Revolutionary Party (LPRP) Central Committee and President of Laos, Thongloun Sisoulith, following the passing of General Khamtay Siphandone, former President of the LPRP Central Committee and former State President.

    • Celebrating 50 Years of Lao-Finnish Diplomatic RelationsPolitics

      Celebrating 50 Years of Lao-Finnish Diplomatic Relations

      4/3/2025 3:19:16 PM

      On April 2, 2025, a ceremony was held in Vientiane to mark the 50th anniversary of diplomatic relations between the Lao People’s Democratic Republic and the Republic of Finland.

    • Vietnamese Party chief to pay tribute to former President in VientianePolitics

      Vietnamese Party chief to pay tribute to former President in Vientiane

      4/3/2025 11:03:58 AM

      (KPL/VNA) General Secretary of the Communist Party of Vietnam Central Committee To Lam will lead a high-ranking delegation of the Party and State of Vietnam to Vientiane on April 3 to pay respects to former President of the Lao People’s Revolutionary Party (LPRP) Central Committee and former President of Laos Khamtay Siphandone, who passed away on April 2.

ads
ads

Top