Lao Govt Explains Main Reasons For Rising Debt Burden
The government has cited five reasons for its spiralling public debt over the past five years, which is continuing even though measures have been introduced to address it.
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Deputy Prime Minister and Minister of Finance Mr Somdy Duangdy
Pandemic Has Set Revenue Collection Back Three Years
The impact of the coronavirus on the economy has driven revenue collection back by three years, the deputy prime minister has told the National Assembly
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Lao Government Outlines Plans To Tackle Debt Issue
The Lao government has announced that it will manage and address public debt in various ways as it seeks to ease the country’s financial tensions.
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Number Of Families Working In Agriculture Down By 10 Percent: Survey
A survey conducted in 2019-2020 revealed that 851,257 families in Laos work in agriculture
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Laos Toughens Anti-Money Laundering Measures
Source: Vientiane Times The National Committee for anti-money laundering (AML) and counter-terrorism financing (CTF) has reviewed the progress of preparations
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Private Investment Remains Strong In Laos (Government Report)
Private investment prospects in Laos remain robust despite the nation’s drop in ranking on the World Bank’s Ease of Doing Business Index, according to a government report.
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SMES To Be Subject To VAT
Small and Medium Sized Enterprises (SMEs) in Laos must prepare for a new challenge when the government enforces the Law on Value Added Tax (VAT) next year.
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Govt Struggles To Address Budget Deficit
The government has cleared a plan to lower its budget deficit for 2018 but it still requires more funds to repay domestic and overseas loans.
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National Revenue Shortfall Escalates Budgetary Tensions
Revenue collected over the past 10 months of the 2015-16 fiscal year has accomplished only 74.52 percent of the set annual plan approved by the National Assembly, according to financial officials.
The revenue shortfall has further escalated budgetary tensions, creating greater concerns for the government to seek more funding to meet expenditure needs.
Economists worried that the failure to collect the ….