A market in Vientiane capital (Photo: seethinkexplore) In its April World Economic Outlook, the IMF said thatdespite worldwide economic uncertainty, Laos is likely to see economic growthas its main trading partners, including China, have reopened their borders.
The reopening and growth of its economy will likely generate positivespillovers, with even greater spillovers for countries with stronger tradelinks and reliance on Chinese tourism, the report said.
The IMF has foreseen a higher economic growthprospect for emerging markets in developing Asia compared to more advancedeconomies, and the global economy as a whole is expected to see slower growthas well.
Earlier, the Lao Statistics Bureau also reported that thecountry's annual inflation rate decreased slightly from 41.3% in February to41% in March. This is the first time that the inflation rate in Laos has gonedown after more than a year of continuous increase./.
VNA
