Laos Says It Is Ready to Graduate From Least Developed Country Status as November 19 Round Table Focuses on 2027 Budget
The Lao Government has reaffirmed its readiness for the country's graduation from Least Developed Country (LDC) status in November 2026, as it prepares to strengthen economic resilience and ensure a smooth and sustainable transition. The announcement was made at a joint press briefing in Vientiane on November 6, 2026, by the Ministry of Finance and the United Nations Development Programme (UNDP), ahead of the 2026 Annual Round Table Meeting scheduled for November 19.
The briefing was co-chaired by Deputy Minister of Finance Soulivath Souvannachoumkham and UNDP Resident Representative to Laos Ayshanie Medagangoda-Labe, with representatives of diplomatic missions, development partners, government agencies and other stakeholders attending.
This year's Round Table Meeting will focus on prioritising strategic budget allocations for the implementation of the National Socio-Economic Development Plan for Fiscal Year 2027 to ensure a smooth, high-quality and sustainable LDC graduation. It will bring together representatives of the National Assembly, government ministries, provincial administrations, development partners, international financial institutions, the private sector and civil society to discuss development priorities and financing needs.
Deputy Minister Soulivath said the 2026 meeting was particularly significant as it comes ahead of Laos' graduation from LDC status and coincides with the first year of implementing the 10th National Socio-Economic Development Plan (2026-2030). He noted that Laos had faced global economic uncertainty and severe natural disasters in 2026, but efforts to stabilise the national currency, control inflation and maintain tighter monetary policies had helped preserve macroeconomic stability, with average inflation reported at 7.8 percent.
The UNDP Resident Representative congratulated the Lao Government on reaching this development milestone and reaffirmed UNDP's commitment to supporting the transition. She said the Round Table Process remained an important platform for mobilising development financing, addressing funding gaps and strengthening cooperation between the government and development partners, and supported implementation of the Vientiane Declaration III on Partnership for Effective Development Cooperation.
Graduation means the preferences Laos has enjoyed as an LDC will gradually phase out, and budgets and financing will have to stand more on their own. That is why this year's Round Table puts the Fiscal Year 2027 budget allocations at the centre of the agenda: settle the money first, so the road after graduation stays steady.
(Source: Lao News Agency)
Source: Lao News Agency
Published by GSM · USA (original Chinese edition)
Photo: 图：老挝首都万象的塔銮与 Sayasetthathirath 国王像。照片：Stefan Fussan，CC BY-SA 4.0，经维基共享资源。 / Photo: Pha That Luang and the statue of King Sayasetthathirath in Vientiane, Laos. Photo: Stefan Fussan, CC BY-SA 4.0, via Wikimedia Commons
