VIENTIANE, May 23 (Xinhua) -- The Lao central bank, the Bank of the Lao PDR (BOL), held a brainstorming meeting on strategies to address the country's high inflation.
The meeting, chaired by Governor of BOL Bounleua Sinxayvoravong, was attended by representatives from BOL, commercial banks, international organizations, and relevant sectors, according to a press release issued by the BOL on Thursday.
During the meeting on Wednesday, participants identified the cause of inflation in both global and domestic markets, and discussed potential solutions to mitigate its impact.
Inflation in Laos has increased significantly since the beginning of 2022, with the rate surging from 6.25 percent in January 2022 to 41.26 percent in February 2023.
Despite declining trends, the inflation in the country remains at a two-digit figure, standing at 24.92 percent in April 2024.
The unstable price of fuel, gas and other imported goods, together with the depreciation of the Lao currency kip, are among the main drivers of the inflation, said the report.
To tackle the issue, Bounleua emphasized the importance of raising public awareness about the causes of inflation and the measures being taken by the government to mitigate the effects of inflation. ■
