Over half a century ago, Lao PDR began its journey to become a modern nation and committed itself to long-term development ambitions. It has delivered electricity, schools, roads, and has become an important energy exporter.
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KEY FINDINGSEconomic outlookLao PDR’s economy is projected to grow at 8% in 2013. The major contributors to this are services, hydropower, construction, and food processing sectors.The East Asia and Pacific... Show More + region is expected to experience solid growth in 2013. Lao PDR is expected to benefit from sustained demand from its key trading partners (particularly China, Thailand, and Vietnam), given their overall prospects in 2013.Lao PDR’s accession to the World Trade Organization in February 2013 was a step towards the establishment of a rules-based system of economic governance. It is an important part of efforts to promote the non-resource sectors.Headline inflation increased from 3.4% in November 2012 to 5.8% in March 2013, primarily due to higher food inflation resulting from higher prices of non-rice food items.The fiscal deficit is expected to rise notably in 2012/13 due to increased spending on public sector wage increases.Slower growth in revenues is expected as a result of lower mi Show Less -
With continued resilient economic growth in the East Asia and Pacific region, Lao PDR is expected to benefit from sustained demand from its key trading partners, says World Bank Lao PDR Economic Monitor... Show More + ReportVientiane, July 2, 2013 – Resilient regional economic growth and strong domestic demand is expected to facilitate Lao PDR’s robust economic growth this year. Lao PDR’s economy is expected to grow at 8% in 2013, fueled by growth from the services, hydropower, construction, and food processing sectors. However, sustained domestic demand still continues to put a pressure on external balances. The World Bank’s latest Lao PDR Economic Monitor released today highlights recent key economic, budget and sector developments: effectiveness and transparency of mining revenues, public spending on health, and net economic benefits of sanitation interventions in Lao PDR.The report highlights Lao PDR’s recent accession to the World Trade Organization in February 2013, as an important step to Show Less -