Laos Cabinet and National Assembly Meet to Discuss Economic Woes

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Laos Cabinet and National Assembly Meet to Discuss Economic Woes
Prime Minister Phankham Viphavanh (left) and Xaysomphone Phomvihane, President of the National Assembly.

Cabinet ministers and National Assembly members held a special meeting yesterday to discuss the country’s growing economic problems.

The meeting, co-chaired by Mr. Xaysomphone Phomvihane, President of the National Assembly, and Prime Minister Phankham Viphavanh, was attended by the Standing Committee of the National Assembly and the government Cabinet.

Attendees made proposals and discussed solutions to a number of pressing economic problems affecting Laos and its development.

The meeting sought to push ministries and organizations to implement national agendas and resolutions made by the National Assembly in a number of sectors.

At the same time, the meeting followed up on compliance with the Constitution and laws pertaining to various levels of government and outlined the issues that will be jointly resolved by the National Assembly and the Cabinet.

In the aftermath of the Covid-19 pandemic, Laos is experiencing high inflation and a huge spike in the price of household goods.

Economic problems have been exacerbated by the continued depreciation of the Lao kip and skyrocketing fuel prices due to global uncertainty amid the conflict in Ukraine.