kude.punny

Thai stronger baht affects Lao economy

Vientiane (VNA) – Thailand’s increasingly stronger baht is affecting various fields of the Lao economy.According to Lao State Bank Governor Phouphet Khamphouvong, over 90 percent of products as well as materials and fuel used in Laos are imported from Thailand. He said the strengthened baht over the Lao kip is strongly affecting Lao importers. Many garment and textile units in Laos are at the risk of closing down. Economists said that if the baht continues strengthening, a high inflation for the Lao economy is unavoidable.The Lao authorities are seeking measures to minimise bad impacts caused by the stronger baht. Among others, increasing exports to Thailand to earn more baht is considered a good measure. –Enditem

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