Tag Archives: GDP Laos

Poverty Reduction Slows

Poverty Reduction Slows

Poverty reduction has slowed a little but the government will strive to reduce the number of poor families from 6.56 percent in 2016 down to 6.09 percent by 2017, the government has told the National Assembly.
There are four main reasons for the slower rate of poverty reduction, Minister of Planning and Investment Dr Souphanh Keomixay told the ongoing ordinary session of parliament when he presented a ….. Continue reading

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Revised Govt Plan To See Bigger Budget Deficit

Revised govt plan to see bigger budget deficit

The government’s proposal to revise the next four-year budget plan (2017-2020) will see the budget deficit increase to 4.39 percent of gross domestic product (GDP), up by 0.32 percent compared to the four-year plan approved earlier by the National Assembly (NA).
Deputy Prime Minister and Finance Minister Somdy Duangdy presented the proposed plan to the …. Continue reading

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Revenue Shortfall Drives Budget Deficit Abnormally High

Revised govt plan to see bigger budget deficit

Revenue collection for this fiscal year reached only 95 percent of the annual plan, driving the budget deficit to 6.9 percent of gross domestic product (GDP), higher than the maximum of five percent usually adopted by the government.
Economists have warned that such high deficits will increase public debt, with the country having already accumulated considerable debt that will …. Continue reading

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Five-Year Budget Approved, Deficit Continues

Five-Year Budget Approved, Deficit Continues: Laos

The National Assembly (NA) approved the state budget plan for the next five years (2016-2020) last week, which will include a budget deficit of 27,119 billion kip.
The deficit is in line with the parliament’s approval of the five-year plan that sets the deficit at 3.6 percent of Gross Domestic Product (GDP) with the maximum deficit not to ….. Continue reading

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Lao Economy Remains Vibrant: World Bank

Lao economic growth forecast at 7.7 percent this fiscal year

Laos’ Gross Domestic Product (GDP) growth is expected to moderate to 6.4 percent due to lower external demand and credit growth that is offset by an increased contribution from the resource sector this year, according to the latest World Bank Report.
In addition, the East Asia Pacific region is expected to grow …..
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Growth To Moderate At Around 7 Percent: ADB Report

Growth To Moderate At Around 7 Percent - ADB Report

A new Asian Development Bank (ADB) report predicts that Laos will maintain relatively robust growth in 2015 and 2016, supported by the expansion of hydropower and services.
Growth is expected to moderate to about 7.0 percent in 2015 due to continued weakening domestic demand in some sectors, before picking up to 7.2 percent in 2016, according to the recently released ADB report.
“The Lao economy remains a strong performer in the region with Gross Domestic Product (GDP) growth in 2014 recorded at … Continue reading

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