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Laos adopts coordinated steps to propel economic growth

Lao Prime Minister Sonexay Siphandone, addressing the first extraordinary session of the 10th Lao National Assembly from July 6-10, said the push is designed to hit the economic growth targets and macroeconomic benchmarks approved by the legislature.

Officials at the closing sitting of the 10th Lao NA's first extraordinary session on July 10, 2026 (Photo: VNA)
Officials at the closing sitting of the 10th Lao NA's first extraordinary session on July 10, 2026 (Photo: VNA)

Vientiane (VNA) – The Lao Government will focus on priority measures to curb inflation, stabilise the value of Lao kip (LAK), adopt a flexible and appropriate interest rate policy, and reinforce foreign exchange reserves.

Lao Prime Minister Sonexay Siphandone, addressing the first extraordinary session of the 10th Lao National Assembly from July 6 to 10, said the push is designed to hit the economic growth targets and macroeconomic benchmarks approved by the legislature.

According to him, the Lao Government will also curb imports of luxury goods and products that can be made at home. It plans to temporarily halt imports of fuel-powered vehicles and those without authorised distributors.

It is also reviewing plans to issue a notification adjusting the list of enterprises permitted to engage in the export-import of goods and services.

Deputy Prime Minister and Minister of Finance Santiphap Phomvihane said the Government has proposed making rural development and poverty reduction a national agenda for the 2027–2030 period, targeting 100,000 households lifted out of poverty and a cut in the national poverty rate to about 8% from the current 14.78%./.​

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