(KPL) The socio-economic development of Laos (2007-08) reached as plan despite the fact that our country met with complicated events in the region and natural disaster causes loss hundreds billion kip.
The gross domestic production increased by 7.9 percent and earnings collection reached by 108.30 percent considered this figure of GDP reached as plan.
Deputy Minister of Planning and Investment Bounthavy Sisouphanthong said that although socio-economic development of Laos has been affected global financial crisis, expensive foodstuff, higher oil price and floodwater occurred many time in the country, this was thanks to the Party and Government’s efforts to address this issue pushed the GDP further grown.
The growth of GDP was considerably increased compared to the global current economic situation that is going downward.
On average of GDP increased from last year to 7.9 percent or 45,032.8 billion kip as the plan set was 8 percent and per capita income was 7.52 million kip or equals to US$835 which exceeded the plan.
Deputy Minister Bounthavy added that the inflation rate was 8 percent compared to plan exceeded 2 percent but in this rate we can control it. The kip currency appreciated 11.45 percent against US dollar and 11.74 percent against baht.
When compared to previous year the kip currency appreciated 5.75 percent against US dollar and weaken 3.6 percent against baht. This concludes the currency exchange of kip currency was stable and fluctuation about 5 percent.
