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Lao economy likely to grow 7.5 pct

Despite uncertainties about weather conditions and State budget revenue collection, the Lao economy is forecast to expand about 7.5 percent in the fiscal year 2014-2015 (October 1, 2014 - September 30, 2015).
Despite uncertainties about weather conditions and State budget revenuecollection, the Lao economy is forecast to expand about 7.5 percent inthe fiscal year 2014-2015 (October 1, 2014 - September 30, 2015).

The economy growth is expected to bring 12.74 billion USD to Laos’State budget, according to Lao Minister of Investment and Planning SomdyDuangdy.

The minister predicted that consideringthe current economic growth pace, the average income per capita willreach about 1,857 USD and surpass its target of 1,700 USD as planned for2011-2015.

The agro-forestry, industry and service sectors are expected to grow three percent, 8.9 percent and 9.1 percent, respectively.

Foreignexchange rates remained stable while inflation rate in the first sixmonths of the reviewed period stood at a slight 2.15 percent, down 6.21percent from the fiscal year 2013-2014.

According to his reporton the national socio-economic development progress at the ninth sessionof the seventh National Assembly, around 1.4 billion USD was added tothe State budget in the first half of this fiscal year, or 46.5 percentof the target, while about 1.7 billion USD was spent.-VNA
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