News analysis

Dire financial figures work in Lao leader Phankham Viphavanh's favour

Laos managed to launch the US$6 billion Laos-China railway in December 2021, but many of the country's earlier bad business decisions are now coming to roost. PHOTO: XINHUA
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BANGKOK - Laos wrapped up its latest National Assembly session early this month, leaving Laotians with a dire picture of its financial health.

Cabinet members revealed jaw-dropping figures that were aired on state media: The communist country with a nominal gross domestic product (GDP) of US$11.9 billion (S$16.6 billion) last year is spending US$1.4 billion this year to service debt obligations.

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