World Bank optimistic about growth of Lao economy

conomists believe the Laos-China railway will become an important route for trade and tourism exchange between China and countries in South-East Asia. - AP

VIENTIANE (Vientiane Times/Asia News Network): The World Bank has predicted that Laos will see economic growth of 4.5 per cent in 2022 and 4.8 per cent in 2023 despite projected slower growth of the global economy.

However, the global economy is entering a pronounced slowdown amid fresh threats from Covid-19 variants and a rise in inflation, debt and income inequality that could threaten the recovery in emerging and developing economies, according to the World Bank’s latest Global Economic Prospects report.