09-20-2018 Wednesday

Overview

Lao People’s Democratic Republic

The Lao People’s Democratic Republic is one the few remaining one-party Communist states. With a GNI per capita of USD$1,650 (2014), Lao PDR is considered a lower middle-income country. The country began a decentralization of its administration and implemented policies that encouraged the development of private enterprises in 1986. This resulted in annual average growth rates of 6% between 1988-2007 and an average of 7.7 per cent between 2011-2015 despite the global recession.

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