- Business

Laos’ economy grows by 3%

Laos has recorded a moderate economic growth of 3% last year due to prolonged Covid-19 pandemic, according to the Government’s annual report.

The implementation of the National Agenda on tackling economic and financial difficulties and related measures has helped the government achieve such an economic growth rate.

Revenue collection has reached more than 27.3 trillion kip (equivalent to 98.98% of the target set for 2021). Meanwhile, expenditures were estimated at more than 24.7 trillion kip, representing 78.44% of the government’s annual spending plan.

Source: Lao News Agency