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Laos revises economic growth forecast to 7.3 percent for year ahead

Xinhua, August 29, 2016 Adjust font size:

Forecasts for economic growth in Laos for the coming year have been revised from 7.5 percent down to 7.3 percent, local media reported Monday.

The economy in the Mekong-side nation grew by approximately 6.9 percent over the past 12 months, but more will need to be done to reach future growth targets in the face of global economic uncertainty, state-run daily Vientiane Times reported Monday.

The revision follows the August monthly meeting of the nation's executive cabinet chaired by Lao Prime Minister Thongloun Sisoulith last Friday.

The meeting gave in-principle support to amended Laws on Investment Promotion, Media and Government with revised acts expected to be tabled for the consideration of the National Assembly, the peak unicameral legislature of Laos, later this year.

Bolstering of an ongoing response to natural disasters including flooding and locust infestations afflicting the some northern provinces in the largely mountainous country of six and a half million was also called for.

Maintenance of public safety and security during the Association of Southeast Asian Nations (ASEAN) 28th and 29th Summits and related meetings set for Sept. 6-8 and attended by regional and world leaders, including those from was identified as a key priority at the two-day meeting that closed Friday. Endit