Economist: Laos to face sharp decline in remittances due to pandemic

VIENTIANE, Aug. 18 (Xinhua): Remittances in Laos are projected to decline by about 50 percent in 2020 as a result of the economic crisis triggered by the Covid-19 pandemic, local daily Vientiane Times quoted a senior economist as saying.

Chairman of the National Assembly's Planning, Finance and Audit Committee and economist Leeber Leebouapao told Vientiane Times on Monday that the remittances form a major part in the Lao economy and poverty reduction efforts.