World Bank downgrades Lao economic growth rate to 3.8%

Covid and other factors impact Lao economy. - VT

VIENTIANE (Vientiane Times/Asia News Network): Laos’ economy is projected to expand by 3.8 per cent in 2022, down from the 4.5 per cent growth rate predicted in October last year and 3.3 per cent in the downside scenario, according to the World Bank’s latest report.

The World Bank’s East Asia and Pacific Economic Update: Braving the Storms emphasised that the Ukraine crisis threatens the uneven recovery of developing East Asia and Pacific (EAP) countries, including Laos, from the Covid-19 shock.