Laos To Increase Allowance Amid High Inflation

VIENTIANE, (APP - UrduPoint / Pakistan Point News - 5th Apr, 2024) Laos' Ministry of Finance has announced to increase the monthly cost of living allowance provided to civil servants, retirees, and volunteer teachers, to cope with high inflation.

The announcement aims to support civil servants earning less than 1.7 million kip (around 80 U.S.

Dollars) a month, helping them to navigate the challenges posed by inflation, Lao National Radio reported on Friday.

The inflation rate in Laos stood at 24.9 percent in March. The weak kip is seen as one of the main factors driving inflation up, according to the Lao Statistic Bureau.

In 2023, the Lao government took the decision to increase the minimum wage for the third time in less than 18 months in an attempt to counter rampant inflation and continuing financial hardship.