VIENTIANE: The gross domestic product (GDP) of Laos grew at an average of 4.24 per cent over the past five years, and the poverty rate fell from 18.3 per cent in 2018-2019 to 15 per cent in 2025, Lao Prime Minister Sonexay Siphandone said here on Wednesday (Feb 25).
Sonexay presented the data during a dissemination meeting of the resolutions of the 12th National Congress of the Lao People's Revolutionary Party, Lao Economic Daily reported.
Reflecting on the ninth five-year national socio-economic development plan (2021-2025), Sonexay said the country had faced a complex and unpredictable regional and international environment, including the Covid-19 pandemic, global political and trade tensions and natural disasters, according to the report.
Despite these obstacles, the country has achieved key achievements, including steady economic growth, improved macroeconomic stability, reduced public debt and inflation, stable exchange rates, and increased foreign reserves, the report said. - Xinhua
