Arab Today, arab today world bank acknowledges strong lao growth highlights risks
Last Updated : GMT 23:41:58
Arab Today, arab today
Arab Today, arab today

World Bank acknowledges strong Lao growth, highlights risks

Arab Today, arab today

Arab Today, arab today World Bank acknowledges strong Lao growth, highlights risks

Vientiane - XINHUA

The World Bank's biannual Lao PDR Economic Monitor released Tuesday has acknowledged Lao PDR's strong growth in recent years while highlighting the risks of accommodative macroeconomic policies. "We encourage the government to increase efforts to tighten fiscal and monetary policies, so as to safeguard the economic achievements of recent years," said Keiko Miwa, World Bank country manager in Lao PDR. According to the report, growth for 2014 is projected at 7.2 percent, a moderate slowdown compared to the figure of 8.1 percent recorded for 2013. Growth continues to be fueled by the resource sector due to accommodative macroeconomic policies and continued foreign direct investment (FDI) financed hydropower investment. The resource sector is predicted to contribute less to the country's growth in 2014. Many major projects are under construction and are therefore unable to contribute to this year' s growth. 2014 is predicted to see higher copper production however this is likely to be offset by an expected lower gold production. The report suggests more prudent medium-term expenditure planning and execution by the government going forward in order to narrow the fiscal deficit. According to the report, cuts in benefits by the government to narrow the fiscal deficit will be offset by new recruitment as well as salary increases for civil servants. In 2013 foreign exchange reserves fell to their lowest level in a decade covering only 1.3 months of goods and service imports. According to the report the trend was fueled by the widening current account deficit driven by resource sector investment as well as strong domestic demand and accommodative fiscal policy. The World Bank report suggests authorities rebuild reserves to guard against adverse future shocks. Over the course of 2013 the Lao kip weakened slightly against the U.S. dollar but strengthened against the Thai baht. The report continues to state "an overall real appreciation of the exchange rate implies a deterioration in the competitiveness of Lao PDR's tradable exports." The Lao PDR Economic Monitor also highlighted a recent study that gave suggestions to improve the quality of Lao education. According to the study challenges to provide students access to education persist despite increased government spending in the sector. According to the study, challenges include a low level of spending on "non-wage, public recurrent expenditure" which pays for school materials, equipment, teacher training and various other expenses. As such, families shoulder the majority of spending for school materials that in turn results in fewer learning materials and lower quality facilities.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today world bank acknowledges strong lao growth highlights risks Arab Today, arab today world bank acknowledges strong lao growth highlights risks

 



Arab Today, arab today
Arab Today, arab today Ideen Belmahdy happy to be part of “ Fashion Star”

GMT 17:00 2017 Sunday ,26 February

Ideen Belmahdy happy to be part of “ Fashion Star”
Arab Today, arab today Tourist guide explains types of tourism

GMT 18:28 2017 Saturday ,25 February

Tourist guide explains types of tourism
Arab Today, arab today Expresses Algerian history by woody figures

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures
Arab Today, arab today Iran complying with nuclear deal

GMT 07:14 2017 Saturday ,25 February

Iran complying with nuclear deal
Arab Today, arab today Ayat Abaza says state TV presented major stars

GMT 03:52 2017 Sunday ,26 February

Ayat Abaza says state TV presented major stars
View News in Arabic - Business: مصارف
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Reading therapy relieves mental disorders

GMT 15:39 2017 Friday ,24 February

Reading therapy relieves mental disorders
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Penguins in the age of dinos

GMT 11:44 2017 Saturday ,25 February

Penguins in the age of dinos
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today 'Constructive' Vauxhall talk with union

GMT 08:54 2017 Saturday ,25 February

'Constructive' Vauxhall talk with union
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Ola Ghanem hopes to work with M.Ramadan

GMT 07:23 2017 Friday ,24 February

Ola Ghanem hopes to work with M.Ramadan
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage

GMT 06:08 2017 Thursday ,23 February

Actress Lobna Abdel Aziz proud of her career

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 13:47 2017 Friday ,24 February

Rabia Fatima reveals role of "Facebook" in her career

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 20:33 2017 Friday ,17 February

To release new antiques collection

GMT 10:20 2017 Thursday ,23 February

Brazil's top diplomat resigns

GMT 11:54 2017 Thursday ,23 February

Saudis await visitors but will they come?

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday