Local residents practicing COVID-19 preventative measures in Vientiane, Laos (Photo: Xinhua/VNA)
Vientiane (VNA) - The increasing inflation rate and the weakkip are partly to blame for the slow growth of the Lao economy, according to local media.
In the first five months of this year, the rate of inflation averaged2.66 percent, which was lower than during the same period last year but showed anincreasing trend, according to the Lao Ministry of Industry and Commerce’s NationalInstitute for Economic Science and Society.
Other reasons for the struggling economy are an insufficient supply ofgoods and the rising cost to transport goods from Laos to other countries. Therising price of fuel and COVID-19 prevention and control measures are alsoposing challenges for the transportation of goods.
The weak value of the Lao kip compared to the Thai baht and US dollar isdriving inflation because most businesses have to import raw materials and machinery from other foreign countries.
In the first six months of 2021, the exchange ratebetween the kip and dollar rose by 6.5 percent compared to the same periodlast year, while the kip-to-baht exchange rate increased by 9.9 percent.
According to the Ministry of Finance, the amount of revenue collectedover the past six months totalled 11 trillion kip (1.15 billion USD),equalling 40 percent of the yearly plan.
The ministry predicts that State budget revenue will fall short of the target for2021, saying that only 23.6 trillion kip would be amassed this year, equal to86 percent of the target figure.
The projected revenue shortfall could result in the budget deficitrising from 3.9 trillion kip, or 2.17 percent of gross domestic product (GDP),to 7.9 trillion kip – 4.33 percent of GDP.
🦩 However, the government will not revise the budgetfor this year because it has pledged to boost national revenue and managebudget expenditure./.
Souliya Kiewphilavong, Chief of Office of the Lao People's Revolutionary Youth Union Central Committee visited the Vietnamese student dormitory of the National University of Laos in Vientiane on August 2 to encourage and present the students with gifts worth 12 million kip (1,254 USD).
Minster of Public Security General To Lam on August 2 asked public security forces to continue their intensive and extensive cooperation with Laos across spheres, especially in the fight against drug crimes.
Vietnamese Foreign Minister Bui Thanh Son has underlined four groups of solutions to boost post-pandemic economic recovery and development in the Mekong sub-region, including the prompt implementation of COVID-19 vaccination, stronger cooperation in high-quality vaccine technology transfer, production and distribution and the enhancement of public health system to respond to medical challenges.
Laos has for the 7th consecutive time extended lockdown measures to curb COVID-19, while Indonesia has decided to prolong its restrictions on community activities, known locally as PPKM Level 4, in several regions until August 9.
Japan's government has decided to donate medical equipment worth 2.52 million USD in total to Laos and Thailand to support the two countries in the fight against the COVID-19 pandemic.
In his article, Oscar Sanchez Serra highlighted President Ho Chi Minh’s founding of the Thanh Nien (Young People) newspaper on June 21, 1925, which marked the birth of Vietnam's revolutionary press rooted in a bold and far-sighted vision.
Several ASEAN meetings are scheduled to take place in Port Dickson this September, including the Senior Officials' Meeting (SOM) for ASEAN Plus Three (APT), the East Asia Summit (EAS), the 15th ASEAN Maritime Forum, and the 13th Expanded ASEAN Maritime Forum.
Thailand's Prime Minister Paetongtarn Shinawatra has ordered the urgent implementation of a national policy to crack down on all forms of call centre scams, online fraud, and illegal gambling, which are now considered threats to national security.
Coordinating Minister for Economic Affairs Airlangga Hartarto and EAEU Trade Minister Andrey Slepnev jointly declared the conclusion of FTA talks on the sidelines of the 28th St. Petersburg International Economic Forum (SPIEF 2025), according to the statement.
The article stressed that throughout his revolutionary career, the founder of modern Vietnam consistently regarded the revolutionary press as a vital part of the Vietnamese Party’s and nation’s revolutionary struggle.
Pichai said the trade talks with the US are important and need to move forward professionally, without regard for any political changes in Thailand, believing that Thailand has clear principles, guidelines and procedures in place.
The tax adjustment supports the Malaysian Government’s strategy to reduce reliance on foreign food supply chains and to assist domestic farmers, a finance official has said.
The proposed venue is located in the Chatuchak area of Bangkok, featuring eight public sites, including Krungthep Aphiwat Central Terminal and several nearby parks.
Connectivity is expected to improve further with the completion of the fifth Laos–Thailand Friendship Bridge by the end of 2025, facilitating logistics and agricultural exports to Vietnam, Thailand, and China.
Two naval gunboats intercepted a fishing vessel carrying 1.5 tonnes of methamphetamine hydrochloride off the coast of the main island of Luzon just before dawn, in a joint operation with the Philippine Drug Enforcement Agency.
In the today context of socio-economic development and growth, the professionalism of Vietnam’s revolutionary journalists continues to rise, guided by exemplary mastery of new information technologies and the modernisation of their founding principles to preserve the enduring values of revolutionary journalism.
Thai Permanent Secretary of the Ministry of Commerce Vuttikrai Leewiraphan Thailand's formal proposal will be substantial enough for the US to consider further detailed negotiations. He hoped for a tariff rate not exceeding 10% and suggested that the US might extend the negotiation period if an agreement is not reached by the July 8 deadline.
Organised by the Ministry of Culture and the Association of Thai Silk & Culture Promotions, the event honors Her Majesty the Queen on her 47th birthday anniversary and promotes Thai craftsmanship on an international stage.
Prensa Latina's recent article on Vietnam’s assurance of smooth and effective transition to a leaner structure highlighted Prime Minister Pham Minh Chinh’s latest directions on implementing 28 resolutions regarding the decentralisation and delegation of authority.
The lab focuses on four key thematic areas: energy transition and green innovation, sustainable agriculture, circular economy and sustainable cities, and nature-based solutions and biodiversity.
The key content of the document titled "Accelerating Innovative Strategies: Addressing the OOSCY Challenges" will be refined further in a seminar preceding the 47th ASEAN Summit in Kuala Lumpur this October.
This follows Telegram’s serious failure to address the content that has been repeatedly reported to them, despite various efforts of negotiation and cooperation made by MCMC, it said.
Local residents practicing COVID-19 preventative measures in Vientiane, Laos (Photo: Xinhua/VNA) 
