Laos finds it difficult to bring CPI to single digit this year

The Lao State Bank estimates that the country's inflation rate will be 25% in the first half of 2024. The reason is that the recent global financial situation has continued to fluctuate, causing the Lao currency to depreciate against other foreign currencies, with the exchange rate between the banking system and the black market being 10% higher.

High prices of goods continue to make life difficult for Lao people.

In addition, the structure of Laos's macro- economy lacks foreign currency balance, the demand for foreign currency to pay for imported goods, services and foreign debt continues to increase, while the ability to supply foreign currency is limited, making it difficult to manage inflation and exchange rates, which inevitably directly affects people's lives.

Although the target of curbing inflation to no more than 9% has not been achieved, the Government and the National Assembly will continue to make efforts to adjust policies and implement measures to achieve the target of reducing the inflation rate for the whole year to single digits, including continuing to operate monetary policy in a prudent manner; increasing the effectiveness of foreign currency management; implementing measures to stabilize exchange rates and address the lack of confidence in the Kip.

Source: https://vov.vn/kinh-te/lao-kho-dua-cpi-ve-muc-1-con-so-trong-nam-nay-post1101987.vov