Laos Post

Friday, May 09, 2025

Prime Minister Sonexay Siphandone Reports Higher Than Expected Economic Growth

Laos Achieves 4.7% Growth Amidst Strong Revenue Collection and Anti-Drug Efforts
Prime Minister Sonexay Siphandone announced that economic growth in the first half of the current fiscal year was estimated at 4.7 percent, surpassing the 4.5 percent target set by the National Assembly. The announcement was made during the 7th Ordinary Session of the National Assembly's 9th Legislature on June 10.

In his report, PM Sonexay highlighted that revenue collection reached 25.9 trillion kip, equating to 52 percent of the annual plan, with domestic revenues amounting to 24.1 trillion kip, or 54 percent of the plan. The government has focused on closing revenue loopholes and improving legislation to enhance collection.

Additionally, the Prime Minister emphasized the government's commitment to combating drug issues. Over the past six months, authorities arrested over 2,600 drug traffickers and confiscated large quantities of narcotics, including crystal methamphetamine, heroin, cannabis, opium, ketamine, cocaine, and caffeine, along with weapons and explosive substances.
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