Foreign Affairs

NA approves Gov’t report on National Socio-economic Development

The National Assembly (NA) approved on Wednesday the government reports on the implementation of the National Socio-economic Development Plan and the State Budget Plan of 2021 along with targets for 2022.

Members of the National Assembly commended the efforts made by the government and relevant authorities in overcoming difficulties and challenges, and in implementing the resolution of the National Assembly while realizing economic development and Covid-19 control measures.

They appreciated the government’s achievements in ensuring constant economic growth and improving living standards of the people thus contributing to the political stability and social peace in the country.

As for 2022, the government has aimed its new annual National Socio-economic Development Plan at ensuring a constant economic growth with Gross Domestic Product –GDP- expected to reach 191 trillion kip, a rise of 4.2% compared to the current year, an annual per capita income of US$2,496 and Gross National Income (GNI) of US$2,351.

NA members urged the government to attach attention to the implementation of measures stated in the two National Agendas especially those related to the addressing of public debts, revenue collection and fight against narcotic drugs.

They also urged the government to speed up the recovery of outstanding receivables and funds frozen in the investigation process, tap new revenue sources, reduce budget deficit, amend laws and sub-law instruments related to revenue collection, and tighten state expenditure management.

Source: Lao News Agency