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Laos sets 7 percent economic growth by 2018

The Lao government has set the goal of achieving a 7 percent gross domestic product (GDP) growth by 2018, said the Vientiane Times on September 12.
Laos sets 7 percent economic growth by 2018 ảnh 1Illustrative image (Source: VNA)
Vientiane (VNA) – The Lao government has setthe goal of achieving a 7 percent gross domestic product (GDP) growth by 2018,said the Vientiane Times on September 12.

If achieved, the GDP per capita will amount to 2,567 USD.

During a recent two-day government meeting, Lao Minister ofPlanning and Investment Souphanh Keomixay presented a draft socio-economicdevelopment plan for 2018.

Accordingly, agriculture is expected to grow by 2.8 percentwhile industry will expand by 9.1 percent, down from 9.53 percent in 2017. Theservice sector is set to grow by 6.4 percent, up from 6.15 percent in 2017.

Revenue from import tariff is scheduled to increase by 9percent, up from 6.9 percent set for 2017.

The government will also strive to collect about 3 billionUSD to the State budget and curb spending below 4 billion USD. Inflation ratewill be kept below 5 percent.

The plan will be submitted to the Lao legislature in theOctober meeting for approval.-VNA
VNA
#Lao government#gross domestic product#growth#GDP#Vietnamplus#Vietnam News Agency#agriculture#draft socio-economic development plan
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