Download or read book Lao PDR Economic Monitor written by and published by . This book was released on 2007 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Lao PDR Economic Monitor May 2010 written by Weltbank and published by . This book was released on 2010 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Real gross domestic produ ...
Download or read book Lao PDR Economic Monitor June 2018 written by World Bank Group and published by . This book was released on 2018 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Lao PDR's GDP growth slightly decelerated to 6.9 percent in 2017, but remained robust. The economy is expected to further ease to 6.7 percent in 2018. Recent expansion of labor-intensive industries (agriculture, manufacturing and services) and robust remittances inflows are expected to continue to support poverty reduction. Macroeconomic vulnerabilities remain significant despite some improvement in economic management. The large deficit has resulted in public debt reaching around 61 percent of GDP in 2017. The current account deficit narrowed in 2017 on the back of strong exports of electricity, manufacturing and agriculture products, while improved metal prices supported higher mining exports. Monetary conditions were slightly loosened near the end of 2017; however, the monetary policy transmission mechanism remains weak. The fiscal deficit is expected to gradually decline while the external deficit will temporary widen. These and other economic developments and the economic outlook are discussed in the first section of this report. The second section focuses on the high cost of paddy production for farmers and the operational inefficiencies among multiple players in the value chain that are responsible for high consumer rice prices. The study finds that Lao farmers receive relatively high farm-gate price, yet high production cost eats their profits. These constraints are largely structural and they require: (i) facilitating value chain linkages between farmers and millers through productive partnerships; (ii) enhancing access to finance of farmers and millers; and (iii) improving quantity and quality of public services critical to reduce the currently high production costs and enhance commercialization, e.g., seed, applied research, mechanization, cooperatives, and good agricultural practices. Reducing farm production costs appears to be the most important challenge and opportunity at this point of time for Lao PDR.
Download or read book Lao PDR Economic Monitor June 2018 written by Weltbankgruppe and published by . This book was released on 2018 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Lao PDR's GDP growth slightly decelerated to 6.9 percent in 2017, but remained robust. The economy is expected to further ease to 6.7 percent in 2018. Recent expansion of labor-intensive industries (agriculture, manufacturing and services) and robust remittances inflows are expected to continue to support poverty reduction. Macroeconomic vulnerabilities remain significant despite some improvement in economic management. The large deficit has resulted in public debt reaching around 61 percent of GDP in 2017. The current account deficit narrowed in 2017 on the back of strong exports of electricity, manufacturing and agriculture products, while improved metal prices supported higher mining exports. Monetary conditions were slightly loosened near the end of 2017; however, the monetary policy transmission mechanism remains weak. The fiscal deficit is expected to gradually decline while the external deficit will temporary widen. These and other economic developments and the economic outlook are discussed in the first section of this report. The second section focuses on the high cost of paddy production for farmers and the operational inefficiencies among multiple players in the value chain that are responsible for high consumer rice prices. The study finds that Lao farmers receive relatively high farm-gate price, yet high production cost eats their profits. These constraints are largely structural and they require: (i) facilitating value chain linkages between farmers and millers through productive partnerships; (ii) enhancing access to finance of farmers and millers; and (iii) improving quantity and quality of public services critical to reduce the currently high production costs and enhance commercialization, e.g., seed, applied research, mechanization, cooperatives, and good agricultural practices. Reducing farm production costs appears to be the most important challenge and opportunity at this point of time for Lao PDR.
Download or read book Lao PDR Economic Monitor November 2007 written by Weltbank and published by . This book was released on 2013 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The information presented in the Lao Economic Monitor covers economic developments that have occurred in Lao PDR in the last six months (between May and October 2007). It reports on recent economic performance (Part I), progress in the implementation of the Government's policy reform agenda (Part II), and donor activities in the relevant reform areas (Part III). The report points out that Lao PDR macroeconomic performance continues to be strong, and the impact of resource sector is increasing. Real GDP growth continued to be robust at 7.6 percent in 2006 and is expected to remain above 7 percent in 2007. Manufacturing and other non-resource sectors continued to grow moderately, contributing around 5 percentage points of the above growth. However, other significant part of economic growth was contributed by the resource sectors, especially by the expansion of copper extraction and construction of large hydropower projects.
Download or read book Lao PDR Economic Monitor May 2010 written by World Bank and published by . This book was released on 2010 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Real gross domestic product (GDP) growth, which was estimated at 7 percent in 2009, is expected to increase to 7.8 percent in 2010 driven largely by resource sectors. Out of this growth of 7.8 percent, around 3.3 percentage points comes from power sector (mainly NT2 - nearly 3 percentage points), 0.9 percentage points from agriculture, around 0.4 percentage points for each of mining and construction, 0.8 percentage points from manufacturing and about 1.7 percentage points from services sector (tourism and retail trade, financial sector services as a result of the recent sharp increases in bank lending, and transport and telecommunication services). Real gross national income (GNI) is expected to slow to nearly 6 percent this year compared to 9.5 percent in 2009 due to significant outflows of income (profit repatriation and interest payment) from resources sectors (mining and hydropower). Although international reserves remained fairly stable during the last six months, net foreign assets dropped by 25 percent. Gross official Reserves at the Bank of Lao PDR were estimated at about USD 635 million during Oct 2009-Mar 2010 of which USD 65 million can be attributed to an increase in the International Monetary Fund's (IMF's) SDR allocation in late 2009 and USD 63 million have been borrowed from domestic banks through sales of foreign currency denominated bonds by the Bank of Lao (BoL). Net foreign assets declined by 25 percent in 2009 and 23 percent in Mar 2010 due to rapid credit expansion and import growth. The current account deficit is projected to decline from 10.6 percent of GDP in 2009 to 7.7 percent in 2010 supported by strong export growth, and in particular NT2 exports of electricity to Thailand. The capital account surplus is expected to decrease slightly from 10.6 percent of GDP in 2009 to 10.1 percent this year although FDI started to rebound. The overall balance is likely to turn into surplus in 2010 to about 2.4 percent of GDP. Credit grew rapidly in 2009 and in the first quarter of 2010 but is expected to slow by end?2010. Credits grew by about 90 percent last year and during Jan-Mar 2010 partly due to BOL's direct lending to local projects to finance public infrastructure and associated imports (about 22 percentage points of total credit growth). As the Government of Lao (GOL) made a decision to stop quasi?fiscal activities in September 2009 and bank liquidity tightened (loan to deposit ratio increased significantly to 73 percent by end-2009 from 55 percent in 2008), credit growth is expected to slow in 2010.
Download or read book Lao PDR Economic Monitor January 2014 written by and published by . This book was released on 2014 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Sustaining Growth Maintaining Macroeconomic Stability written by and published by . This book was released on 2013 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Lao PDR Economic Monitor August 2019 written by Weltbankgruppe and published by . This book was released on 2019 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Economic growth in Lao PDR is projected to rebound to 6.5 percent in 2019, up from 6.3 percent in 2018. This pick up is expected to be driven by growth of the construction sector supported by investments in large infrastructure projects, and a resilient services sector, led by wholesale and retail trade growth. The Government has remained committed to fiscal consolidation to contain public debt in the medium term by tightening public expenditure and improving revenue administration. The medium-term outlook remains broadly favorable, but subject to downside risks from heightened uncertainty in the global and domestic environments. Prolonged trade partners, and spillover to the domestic economy through lower trade and investment, and reduced prices for key export commodities. The authorities may face difficulty in responding to such economic shocks given the low level of foreign currency reserves and significant external public debt. A priority is therefore to create fiscal space through improving tax policy and administration as well as build up reserve buffers to respond to shocks. Additionally, improving the business environment and reversing the decline in the global ranking of the ease of doing business, particularly for small and medium-sized enterprises, could also contribute to greater macroeconomic stability, job creation and poverty reduction.
Download or read book Tightening Demand to Maintain Macroeconomic Balances written by and published by . This book was released on 2012 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Lao PDR Economic Monitor August 2019 written by World Bank Group and published by . This book was released on 2019 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Economic growth in Lao PDR is projected to rebound to 6.5 percent in 2019, up from 6.3 percent in 2018. This pick up is expected to be driven by growth of the construction sector supported by investments in large infrastructure projects, and a resilient services sector, led by wholesale and retail trade growth. The Government has remained committed to fiscal consolidation to contain public debt in the medium term by tightening public expenditure and improving revenue administration. The medium-term outlook remains broadly favorable, but subject to downside risks from heightened uncertainty in the global and domestic environments. Prolonged trade partners, and spillover to the domestic economy through lower trade and investment, and reduced prices for key export commodities. The authorities may face difficulty in responding to such economic shocks given the low level of foreign currency reserves and significant external public debt. A priority is therefore to create fiscal space through improving tax policy and administration as well as build up reserve buffers to respond to shocks. Additionally, improving the business environment and reversing the decline in the global ranking of the ease of doing business, particularly for small and medium-sized enterprises, could also contribute to greater macroeconomic stability, job creation and poverty reduction.
Download or read book Lao PDR Economic Monitor April 2008 written by Weltbank and published by . This book was released on 2013 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Lao PDR's economic outlook remains favorable, with continued strong growth. Gross domestic product (GDP) growth remained at above 7 percent in 2007. Output expanded in mining, newly emerging processing industries, agriculture, and new construction of hydropower projects, tourism and other services. Non-resource sectors contributed over 5 percent to this growth, and the resource sector around 2.5 percent. As Lao PDR is surrounded by some of the fastest growing economies in the world, it has benefited from increased demands for its products and large FDI inflows from neighboring countries, such as China, Vietnam and Thailand. The macroeconomic situation remained fairly stable, but is at risk of rising inflation. After falling to a record low level of 4.5 percent in 2007, overall inflation climbed to 6.4 percent in February 2008. High fuel prices pushed up the costs of transportation for individuals and households, construction (including imported raw materials and other chemical related products), land clearing and agricultural farming (including processing materials). The kip nominal exchange rates appreciated almost by 9 percent against US$ and was steady against the Thai baht during the last six to months from Oct 2007 to Mar 2008. It reports on recent economic performance (Part I), progress in the implementation of the Government's policy reform agenda (Part II), and donor activities in the relevant reform areas (Part III).
Download or read book Lao PDR Economic Monitor January 2014 written by Weltbank and published by . This book was released on 2014 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The sector focus for this issue concerns school based management, current conditions and recommendations for the future. Lao PDR's education system faces challenges in meeting its goals of providing all students with access to education and improving learning outcomes. The study presents a framework explaining how school based management can help improve education quality. The Lao economy is estimated to grow at 8.1 percent in 2013, fueled by a vibrant resource sector, continued FDI-financed investment in hydropower, and accommodative macro economic policies. Growth is projected to moderate to 7.2 percent in 2014, reflecting a small projected slowdown in some real sectors, mainly mining and construction. Inflationary pressures, mainly through food prices, are not showing signs of dissipating by end 2013. In FY12/13, the fiscal deficit widened markedly due to a combination of a large increase in public sector wages and benefits, and a decline in grants and mining revenues. The FY13/14 budget plan indicates a narrower fiscal deficit of about 4.3 percent. The risk of debt distress remains moderate, according to the recent Joint IMF-World Bank Debt Sustainability Analysis (DSA) 2013. While the Bank of Lao PDR maintains nominal exchange rate stability of the Lao kip against major currencies, foreign exchange policy should probably give more consideration to reserve management and competitiveness. Foreign exchange reserves and net foreign assets continued to fall in the third quarter of 2013.
Download or read book Sustaining Robust Growth Mitigating Risks and Deepening Reforms written by and published by . This book was released on 2012 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Lao PDF Economic Monitor September 2010 Update written by Weltbank and published by . This book was released on 2010 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Lao PDR economic growth continues to be strong in 2010, against the backdrop of a fragile global recovery yet dynamic regional demand. Growth is projected at 8.5 percent in 2010, from 7.5 percent in 2009. The resources sector is projected to contribute about 4 percentage points of economic growth, of which electricity, water and gas about 3.2 percentage points. This update reports mainly on recent economic developments and medium-term outlook for the country.
Download or read book Lao PDR Economic Monitor December 2017 written by World Bank Group and published by . This book was released on 2017 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The Lao PDR Economic Monitor provides updates on macroeconomic developments and sectoral issues in the country. It is produced bi-annually and distributed widely to the government agencies, development partners, the private sector, think tanks, civil society organizations, and academia. Addressing macroeconomic risks remains a pressing priority while improving environment for long-term growth is a continuous agenda. To create a more stable macroeconomic environment for reforms, maintaining fiscal discipline and bolder steps towards fiscal consolidation is of utmost importance at this stage. Growth is projected to further moderate to 6.7 percent in 2017, below historical averages, but towards a more sustainable level. Continued expansion in power generation, manufacturing, and agriculture are weighed down by slight deceleration in investment, moderating credit growth, stronger controls over government spending and lower-than-expected tourism performance. Domestic demand also shows signs of slowing. Still, compared to developing East Asia and Pacific (EAP) and regional peers such as Cambodia, Thailand and Vietnam, growth remains robust. Headline inflation further declined in 2017, reflecting falling food prices and slowing aggregate demand, amidst a gradual recovery in oil prices. In this regard, the proposed 2018 best, only a modest adjustment. More meaningful consolidation will require stronger efforts to strengthening revenue collection through improved tax administration, fiscal consolidation is of utmost importance at this stage.
Download or read book Lao PDR Economic Monitor June 2020 written by Weltbank and published by . This book was released on 2020 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Lao People's Democratic Republic (PDR) has so far avoided a major health crisis but has not been immune from the global economic downturn. The COVID-19 (Coronavirus) induced economic downturn has affected Lao PDR through multiple channels including tourism, trade, investment, commodity prices, exchange rates, and lower remittances. This report presents a range of growth estimates for 2020 under two scenarios. These scenarios reflect different assumptions regarding: (i) the duration and depth of outbreaks and lockdown in Lao PDR, (ii) the magnitude and effectiveness of economic relief policies, and (iii) the depth and duration of the global downturn. The COVID-19 shock has further aggravated the long-standing structural vulnerabilities in the economy. The country has a legacy of weak macroeconomic management, resulting in limited fiscal and foreign currency buffers even before the global pandemic. Limited fiscal space and the mounting pressure of deficit financing and debt servicing will limit the ability of the Government of Lao PDR (GoL) to stimulate the economy, exacerbating the downturn.