Laos sees economic recovery but challenges remain, says World Bank

The World Bank is projected that Lao economy will grow at 4.1 percent in 2024. - Vientiane Times/ANN

VIENTIANE (Vientiane Times/ANN): The Lao economy is witnessing a gradual recovery from the Covid-19 pandemic, with GDP growth forecast at 3.7 per cent this year, up from 2.7 per cent in 2022, according to the latest World Bank economic update issued this week.

The report, titled Fiscal Policy for Stability, projects that the Lao economy will grow at 4.1 per cent in 2024, but challenges will remain due to skyrocketing inflation, high external debt and a labour shortage.