Laos targets economic growth of 4.5% for 2024

VIENTIANE: At the sixth ordinary session of the National Assembly's ninth legislature, lawmakers approved the macro targets presented by the Lao government, aiming for economic growth of 4.5 per cent in 2024, up from the 4.2 per cent forecast in 2023.

Delivering the closing remarks on Tuesday (Nov 21), Lao National Assembly President Xaysomphone Phomvihane (pic) said the parliamentary sitting had been successful, Lao national TV reported on Wednesday.

During the session, the Lao government said it recognises that the macro targets are very ambitious amid the challenges currently facing Laos, caused by both internal and external factors.

This complexity coupled with the accumulated economic and financial difficulties Laos has suffered for several years will make it difficult to fulfil the targets set for 2024, Lao Prime Minister Sonexay Siphandone said.

In particular, dragging the inflation rate down to the targeted 9 per cent in 2024 from the current rate of almost 30 per cent will be a huge challenge. Maintaining currency exchange rates at favorable levels is also a very ambitious target, he added.

Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Laos , economy


Next In Aseanplus News

Asean news headlines as at 9pm on Tuesday (April 23)
Jokowi says transition to new government to begin soon
Chinese warships in Cambodia fuel fresh concerns as Wang visits
Thai actor Bright and singer Nene confirm they are dating
Rafizi: Economy continues to strengthen along with Bursa Malaysia
Murder in Spain: Limited edition sneakers worn by suspect match footprints at crime scene
Copter tragedy: 'Dad didn't speak much but he always took care of us'
Indonesia forms task force to tackle child pornography as millions of cases recorded
Copter tragedy: Families still reeling from loss
Copter tragedy: Friends see Lt Cmdr Wan Rezaudeen as a hero

Others Also Read