Lao economy to grow slower this year, but stable outlook for 2024: ADB

Lao economy is projected to grow at a slower rate for 2023. – VT

VIENTIANE (Vientiane Times/Asia News Network): The Asian Development Bank (ADB) has lowered the economic growth forecast for Laos in 2023 to 3.7 per cent from 4 per cent projected in April.

The slower than expected growth projection was linked to slower growth prospects in China, impacts from recent floods, macroeconomic pressures arising from unsustainable public debt and a weak Lao kip, the Lao News Agency reported citing the ADB’s outlook.