Lao Economic Monitor, April 2015

Phimmahasay, Keomanivone

Lao Economic Monitor, April 2015 | Towards Restoring Macroeconomic Stability and Building Inclusive Growth

2015

Phimmahasay, Keomanivone

Based on preliminary estimates, the Lao People's Democratic Republic (PDR) economy grew by 7.5 percent in 2014, compared to an average of 8 percent over 2011-13. Looking forward, real gross domestic product (GDP) growth is projected to slow further in 2015 before accelerating in the medium term. Average annual inflation in 2014 decelerated to 4.2 percent from 6.4 percent a year earlier, driven primarily by slower growth in food prices and a decline in fuel prices. In response to a widened fiscal deficit in FY2012-13, the government embarked on much needed fiscal corrective measures in FY2013-14 and FY2014-15. Foreign exchange reserves coverage remains low as compared with prudential benchmarks. While the nominal exchange rate remained relatively stable within the band set by the Bank of Laos (BOL), the real exchange rate continued to appreciate. Indications in 2014 are that bank credit growth is slowing down sharply compared to its previous rapid pace over several years. In order to grasp new opportunities and enjoy the benefits of regional integration, it is necessary for Lao PDR to take steps to create a conducive business environment. In order to achieve broad-based, inclusive growth and poverty reduction in Lao PDR, channeling greater resources toward tackling key workforce skills and productivity challenges is of significant importance.

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agricultural commodities agriculture balance of payments benchmarks buffers capacity building capital market cash flow commercial banks consumers debt depreciation developing countries economic development economic policies exchange rate expenditure exports external debt financial analysis food prices foreign firms foreign investment gold gross domestic product growth rate import imports income inflation liability living standards local government macroeconomics natural resources pollution private debt private investment productivity public debt public investment real estate repayment risk management trade facilitation transaction costs value added wages world markets world trade organization wto

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Editorial

World Bank, Vientiane

Otras materias

Investment climate; External balance; Supply side; Financial volatility; Banking sector assets; Business environment; Central banks; Regional integration; International standards; Productivity increases; Sustainable growth; Current account deficit; Economic developments; Public spending; Import prices; Skilled workers; Foreign reserves; Balance of payment; Commodity; Export performance; Real effective exchange rate; Trading partners; Tax revenues; Bank supervision; Arrears; Gdp; Banking system; Oil prices; Sustainability analysis; Export competitiveness; Public debt stock; Recurrent expenditures; Bond; Creditors; Non-performing loan; Public debt management; Consumer goods; Cash flows; Foreign currency; Consumer price index; Labor market; Currency; Expansionary economic policies; Domestic financial markets; Benchmark; Macroeconomic stability; Financial sector; Treasury; Lack of transparency; Cash management; Demographic; Debt stock; Exporters; Private sector credits; Issuance; Skills shortages; Total revenue; Banking sector; Excise taxes; Portfolio; Infrastructure projects; Debt burden; Debt payment; Excess supply; Trade information; Credit growth; Investment spending; Reserves; Trading costs; Npl; Debt management; Investing; Holdings; Trading; International development; Deposits; Dispute resolution; Fiscal deficit; Government debt; Securities; Investment regime; Bank credit; Public finances; Debt-service; Currency earnings; Contingent liabilities; Real gdp; Budget deficit; Domestic demand; Public assets; Capital account; Commercial bank; Nominal exchange rate; Macroeconomic vulnerabilities; Investor protection; Fiscal consolidation; Foreign exchange reserves; Structural problems; Foreign exchange; Domestic credit; Slowdown; Broad money; Risk management systems; Foreign exchange reserve; National treasury; Vulnerability to shocks; Output; Domestic credit growth; Gold price; Information system; Investment projects; Government expenditures; Regulatory requirements; Investment inflows; Productivity growth; Private bank; Settlement procedures; Money growth; Job creation; Tariff barriers; Current account balance; Exposure; Securities exchange; Current account; Startup; Government spending; Price competition; Global economy; Incomes; Single market; Purchasing power; Asset ratio; Oil price; Settlement; Domestic investors; Developing economies; Financial asset; Export markets; Commodity price; Liability management; Foreign currencies; Commodity prices; Bonds; Electronic trade; World trade; Government revenue; Economic outlook; Credit expansion; Development bank; Equity holding; Transaction; Debt service; Non-performing loans; Growth projections; Prudential regulations; Debt composition; Real exchange rate; Debt ratios; Foreign direct investment; Foreign assets; Domestic borrowing; Growth rates; Reserve; Investment policy; Monetary fund; Tax; Financial information; Trade laws; Global economic prospects; Effective exchange rate; Commercial bank lending; Total imports; Level of investment

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Lao Economic Monitor, April 2015 | Towards Restoring Macroeconomic Stability and Building Inclusive Growth

2015

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Información bibliográfica