VIENTIANE, Nov. 14 (Xinhua) -- The Lao government has reaffirmed its commitment to addressing major economic and financial challenges affecting people from all walks of life, underscoring these efforts as a top national priority.
Speaking during the 10th ordinary session of the Lao National Assembly's ninth legislature on Thursday, Lao Prime Minister Sonexay Siphandone reaffirmed the government's commitment to addressing key economic challenges, including inflation, exchange rates, electricity prices and rising commodity costs, which continue to impact people's livelihoods.
The government considers inflation, exchange rates, commodity prices and debt settlement as top priorities, the Vientiane Mai newspaper reported on Friday.
Sonexay noted that high inflation and rising prices have placed significant pressure on households, particularly salaried workers in major cities. In response, the government has rolled out a series of measures aimed at curbing inflation.
Looking ahead, the government plans to boost domestic production to reduce imports and stem foreign currency outflows. Additional measures will be introduced to increase foreign currency reserves and ease pressure on both the exchange rate and inflation.
Authorities will intensify oversight of import-export businesses and foreign investors to ensure transactions and capital flows are routed through the banking system. Price management will be tightened to curb unreasonable mark-ups by middlemen, and electricity rates for low-income households will be reviewed to ease living costs.
The government will work to strengthen revenue collection through measures such as modernizing systems and expanding the tax base. It also plans to resolve outstanding debts from state investment projects and intensify crackdowns on illegal vehicles, illegal mining, and the unlawful exploitation of mineral resources. ■