Laos economic growth consistent at 4.03%, says govt

Sonexay attending the 18th East Asia Summit during the 43rd Asean Summit in Jakarta on Sept 7, 2023. -- AFP

VIENTIANE: Laos' annual economic growth has stood at 4.03% over the past two and half years, slightly higher than the 4% target approved by the National Assembly for the 2021-2025 period, Lao Security Radio reported on Wednesday (Nov 1), citing Lao Prime Minister Sonexay Siphandone.

The economy is expected to grow by 4.2% in 2023, lower than 4.5% projected months earlier. Due to depreciating national currency kip, gross domestic product (GDP) per capita is on a decreasing trend, the report said.