Laos raises economic growth forecast to 7.8% for 2009-2010 fiscal year
(17/06/2010-10:04:00 AM)
The Lao government has raised its forecast for the country's economic growth rate from the current 7.5 percent to 7.8 percent for the 2009-2010 fiscal year, Lao newspaper the Vientiane Times reported Tuesday.
The forecast adjustment was made by Lao Prime Minister Bouasone Bouphavanh in his speech to the 9th Ordinary Session of the Sixth Legislature of the Lao National Assembly that opened in the Lao capital city of Vientiane on Monday, according to the newspaper.
The Lao government revised the GDP growth forecast after learning that the global economy is recovering from the financial crisis more quickly than expected, said the newspaper.
The recovery will have a positive impact on the Lao economy, boosting export value and encouraging more investment in the country.
Laos has attracted foreign direct investment worth 549 million U.S. dollars over the past six months of this fiscal year. The country has received 257 million U.S. dollars in official development assistance during the same period, said Bouasone.
According to the World Bank, Laos' economic growth will reach 7.7 percent this year./.
Cambodia - Laos - Vietnam Development Triangle Portal
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Ministry of Planning of Cambodia
Laos Ministry of Foreign Affair
Ministry of Plannning and Investment of Vietnam Tel (Vietnam) : (84-80)44589; (84-80)43485 • Fax: (84-80)44802 • (84-04)38234453 (Ministry Office); Email: ttth@mpi.gov.vn
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