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

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

Idioma

Inglés

Tipo

Report; Economic & Sector Work; Economic & Sector Work :: Economic Updates And Modeling

En AGRIS desde: 2016-03-15

Formato: AGRIS AP

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

2015

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Información bibliográfica