adb lao economic growth strong but susceptible to shock
Last Updated : GMT 05:39:09
Arab Today, arab today
Arab Today, arab today

ADB: Lao economic growth strong but susceptible to shock

Arab Today, arab today

Arab Today, arab today ADB: Lao economic growth strong but susceptible to shock

Vietname - XINHUA

The Asian Development Bank (ADB) 's Asian Development Outlook 2014 has projected a 7.3 percent GDP growth for Laos in 2014 but warns of the country's susceptibility to economic shocks due to macroeconomic imbalances. The projected 7.3 percent growth in 2014 falls slightly short of last year's 7.6 percent. "The Lao PDR economy remains one of the top performers in the region in terms of economic growth," said ADB Country Director Sandra Nicoll on Tuesday. "It is clear, however, that the economy has become more vulnerable to internal and external shocks, and the challenge for the government is to make the economy more resilient by addressing the macroeconomic imbalances that exist today." The ADB's Lao growth prospects are affected by the fiscal challenges facing the government and a small slowdown in mining and construction. ADB Deputy Country Director Barend Frielink told Xinhua that the most urgent issue facing the Lao government was its fiscal constraints. "The economy may not be resilient enough to withstand shocks under the current circumstances so the priority should be to address the fiscal imbalances," he said. The ADB report attributes Laos' 7.6 percent growth last year to the country's expansionary fiscal and monetary policies. Services expanded by 9 percent supported by robust consumer spending. A 12 percent increase in tourist arrivals benefited hotels, restaurants and transportation. In 2013 mining and hydropower outputs expanded, but at a slower rate than in previous years. Hydropower output increased by 3.6 percent, copper production increased by about 3.5 percent and gold production was up by 6.6 percent. Agriculture growth was 2.7 percent despite severe flooding in the third quarter. Inflation for Laos in 2013 stood at 6.4 percent, comfortably beneath the GDP growth rate of 7.6 percent. Into the future, the ADB predicted that investment flowing into hydropower and mining coupled with construction will continue to drive GDP growth along with private consumption and foreign direct investment. Services are likely to maintain solid growth, particularly tourism-related services, telecommunications and wholesale retail trade. According to the ADB, the country's sizable fiscal deficit coupled with persistent payment arrears is likely to negatively affect the economy in 2014. Inflation is expected to be 5.5 percent throughout 2014, slightly lower than 2013's figure of 6.4 percent. "The outlook for 2014 for the economy of the Lao PDR remains solid, as various sectors continue to contribute strongly," said Nicoll. "One of the main challenges is to reduce expenditure to drive the fiscal deficit down to a more sustainable 3 percent of GDP. Another challenge is to rebuild the foreign reserves which fell to a very low level in 2013, leaving the country vulnerable to adverse shocks," she said.

arabstoday
arabstoday

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*

adb lao economic growth strong but susceptible to shock adb lao economic growth strong but susceptible to shock

 



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*

adb lao economic growth strong but susceptible to shock adb lao economic growth strong but susceptible to shock

 



Arab Today, arab today
Arab Today, arab today Jordanian woman reveals her project

GMT 00:46 2017 Saturday ,11 November

Jordanian woman reveals her project
Arab Today, arab today The Big Apple bike boom

GMT 10:47 2017 Wednesday ,22 November

The Big Apple bike boom
Arab Today, arab today Sophian Yussef reveals suitable decoration

GMT 02:56 2017 Thursday ,23 November

Sophian Yussef reveals suitable decoration
Arab Today, arab today Leaders of Russia, Iran, Turkey meet

GMT 10:12 2017 Wednesday ,22 November

Leaders of Russia, Iran, Turkey meet
Arab Today, arab today 'Advanced' cyber attack targets Saudi Arabia

GMT 10:18 2017 Wednesday ,22 November

'Advanced' cyber attack targets Saudi Arabia
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Australian academic's book pulled

GMT 15:20 2017 Monday ,13 November

Australian academic's book pulled
Arab Today, arab today May under Brexit pressure at EU reform summit

GMT 02:14 2017 Saturday ,18 November

May under Brexit pressure at EU reform summit
Arab Today, arab today Delhi half-marathon to go ahead

GMT 03:51 2017 Saturday ,18 November

Delhi half-marathon to go ahead
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Honda recalls 800,000 minivans

GMT 11:43 2017 Wednesday ,22 November

Honda recalls 800,000 minivans
Arab Today, arab today VW says will invest over 34bn euros

GMT 07:19 2017 Tuesday ,21 November

VW says will invest over 34bn euros
Arab Today, arab today Singer Jahda Wahba has unlimited ambitions

GMT 07:56 2017 Monday ,20 November

Singer Jahda Wahba has unlimited ambitions
Arab Today, arab today paObama climate envoy slams Trump's rejection

GMT 16:04 2017 Friday ,17 November

paObama climate envoy slams Trump's rejection

GMT 09:23 2017 Saturday ,18 November

Fedra happy for “Between Two Worlds” success

GMT 11:15 2017 Thursday ,16 November

Angola oil boss sacked by father's protege

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation

GMT 11:38 2017 Wednesday ,15 November

Unloved vultures fight for their survival

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts

GMT 13:41 2017 Tuesday ,21 November

French choke up over proposal

GMT 00:44 2017 Monday ,20 November

Japanese regulators raid Airbnb

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
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