“We have been able to maintain political stability and social order. The economy is in a phase of steady recovery and will continue to grow at a certain level,” said the President in his message on Wednesday.
He added that however, main challenges are facing Laos, including rising inflation, continued depreciation of the kip (Lao currency), and the increasing price of fuel and other consumer goods, Xinhua news agency reported.
The Covid-19 pandemic has disrupted economic activities and had a damaging effect on people’s incomes and quality of life, the President added.
The Lao President said he hopes that the new year will be a year of hope and the Lao people will keep striving to tackle the difficulties.
The Lao New Year celebration this year falls on April 14 to 16. (IANS)