World Bank recommends fiscal reforms to address Laos’ economic challenge

Image from Laotian Times/ANN

VIENTIANE (Laotian Times): The World Bank urged Laos to take immediate steps to stabilise the national economy. With public debt exceeding 100 percent of GDP and a decline in revenue collection, the country confronts economic instability affecting vital sectors.

In a recent report, the World Bank underscored the pressing need to address the rapid devaluation of the Lao kip, citing fiscal challenges that hinder poverty reduction and inclusive development in Laos.