12 January 2015
Vientiane - The Lao People’s Democratic Republic is in a period of robust economic growth and dynamic change. One would applaud the remarkable progresses in socio-economic developments and poverty reduction; with annual average growth of 8 per cent since 2006 and a US$12.79 billion economy, Laos is certainly enjoying one of the highest growth rates in the region.
This has enabled the country to halve poverty since 1992, and the government has set the target to reduce the poverty rate further from 23.2 per cent in 2012 to 19.17 per cent in 2015. The per capita income is estimated to reach US$1,700 for 2015.