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World Bank: Lao economy recovers then falters amid Covid

Mount Equity Group Tokyo, Japan > News > Markets > World Bank: Lao economy recovers then falters amid Covid

VIENTIANE (Vientiane Times/Asia News Network): The Lao economy is on course for moderately improved growth in 2021, despite an outbreak of Covid-19 denting the promising economic recovery made earlier in the year, according to the World Bank.

The Bank’s latest Economic Monitor for Laos — A Path to Recovery — predicts that GDP growth will rise to 3.6 per cent in 2021, against a figure of 0.5 per cent in 2020.

This forecast is down from the 4 per cent growth projected in March 2021, and depends on various assumptions, including economic recovery in neighbouring countries, accelerated vaccination rates, and mitigation of community outbreaks of the virus over the rest of the year.

Growth could yet fall further if the Covid outbreak worsens and strong lockdown measures persist, or if Laos again suffers repeated natural disasters such as flooding,…

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