The government plans to mobilise 41.15 trillion kip to address the projected fiscal deficit and repay domestic and overseas loans by the end of 2023, according to a senior official. Of the total figure, 36.1 trillion kip will be required to pay back domestic and overseas loans, the Minister of Finance, Mr Bounchom Ubonpaseuth, told […]
Read MoreInflation in Laos skyrocketed to 39.27% in December 2022, the highest rate of the year, according to the Lao Statistics Bureau (LSB). In December 2022, Laos set a new record for the highest inflation rate of the year, up from November’s figure of 38.46 percent. Food and non-alcoholic beverage prices rose by 45.3 percent in the last month, […]
Read MoreWith the launch of a new electricity transmission line by the Lao People’s Democratic Republic up to Cambodia, the energy trade, cooperation, and relations between the two Southeast Asian neighbours are set to get a power boost. The new 500-kilovolt (KV) transmission line links a power substation at a village in the southern Champasak province […]
Read MoreWith Laos trending as a travel destination over the past several months and China reopening its borders on Sunday, is the country prepared for an influx of tourists or has it been caught unawares? Chinese tourists made up twenty percent of the five million international visitors that came to Laos in 2019. Last year, after Laos reopened its […]
Read MoreAuthorities in Laos and China have agreed to reopen the international border crossing between Boten and Bohan on Sunday. According to a notice issued yesterday by the Ministry of Foreign Affairs, the international border is all set to reopen in line with a revised Chinese policy on Covid-19 prevention and control. A notice issued by […]
Read MoreLaos has recorded one of the highest rates of economic growth in Southeast Asia over the past two decades, but few jobs have been created. According to the World Bank’s latest economic update, Laos’ GDP growth averaged 7.5 percent a year between 2000 and 2018, with trade growing at an average rate of 17 percent […]
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