However, the global economy is entering a pronounced slowdownamid fresh threats from COVID-19 variants and a rise in inflation, debt andincome inequality that could threaten the recovery in emerging and developingeconomies, according to the WB’s latest Global Economic Prospects report.
Global growth is expected to decelerate markedly from 5.5percent in 2021 to 4.1 percent in 2022 and 3.2 percent in 2023.
The rapid spread of the Omicron variant indicates that thepandemic will likely continue to disrupt economic activity in the near term.
In Laos, the government has eased a number of measures andexpedited the vaccination programme to enable the private sector to resumebusinesses, factories and investment projects to further boost economic growth.
The government reopened the country to internationalvisitors this month in a bid to revitalise the tourism and service sectorswhich have been hit hard by the pandemic since 2020./.