![]() ![]() For many households, real income is falling and spending on health and education is declining. This caused high inflation, in turn weakening income, consumption, and investment. The need to service large external debts, together with high import prices and limited foreign exchange, contributed to a sharp fall in the value of the kip. While the Laos-China railway and new dry port have facilitated travel and trade flows, with industrial activity supported by natural resource exports, recovery has been undermined by macroeconomic instability and external factors. ![]() GDP growth was estimated at 2.7 percent for 2022, supported by a gradual recovery in tourism and other services. Economic activity in the Lao PDR has been weighed down by structural challenges, macroeconomic instability, and a deteriorating external environment. ![]()
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