Budget Deficit Laos

Lao Economy

Revenue Shortfall Drives Budget Deficit Abnormally High

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 ….

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