Lao Kip depreciation continues to harm economic growth, reports local media

VIENTIANE (Bernama-Xinhua): The Lao economy continued to grow at an average of 4 per cent annually over the past few years, though the quality of growth was not high due to the depreciation of the Lao currency kip, according to local media reports.

"The weak kip has resulted in a decline in per capita GDP from US$2,595 in 2021 to US$1,824 in 2023," Lao national TV on Thursday quoted Lao Minister of Planning and Investment Khamjane Vongphosy as saying at the ongoing sixth ordinary session of the National Assembly's ninth legislature.