Laos to take stronger measures to spur economic growth
The Lao People’s Revolutionary Party’s Central Committee has adopted a resolution on the implementation of stronger measures to rein in inflation and stabilise the Lao currency - the Kip.
Vientiane (VNA) – The Lao People’s Revolutionary Party’s Central Committee has adopteda resolution on the implementation of stronger measures to rein in inflationand stabilise the Lao currency - the Kip.
During its seventhsession, which took place from October 23-26, the 11th committee agreedon measures not only to tackle economic challenges but also to speed up the settlementof flood consequences, Vientiane Times reported.
Relevant sectorswere asked to put forth plans to deal with possible wildfires and work harderto boost agricultural production in order to dent the import of items that canbe grown or produced in the country.
The meeting alsonoted complex changes taking place in the region and globally that areaffecting the Lao economy.
Although Laos hassuffered economic and financial distress over the past year, with highinflation, the continuous depreciation of the Kip, and extreme weather events,the government has been able to sustain the economic growth at 4.2%.
The committee alsoasked concerned agencies to make thorough preparations for important events inLaos next year, including the ASEAN Summit and the Visit Laos Year tourismcampaign./.
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