(KPL) The Lao government reported that its economy is to expand by 7.1 per cent for the current fiscal year.
In February this year, it was forecasted that the gross domestic production would expand by 6.9 per cent of GDP but in early April the forecaster made an adjustment and said it would grow by 7.1 per cent.
In the first six months of this year, the agriculture sector was expanded by 3 per cent which covered 30 per cent of the GDP, and service sector reached 7.7 per cent or covered by 38.5 per cent of GDP, and the import tax increased by 7.5 per cent. This was said by Deputy Minister of Planning and Investment, Bounthavy Sisouphanthong when he attended a recent weekly meeting on drafting the 2009-10 socio-economic development and national budget plans.
As the same time industry sector is forecasted to decrease 15.8 per cent from 12.5 per cent while the plan has been set to grow by 15.8 per cent. Mining sector was increased by 31 per cent despite current global financial crisis and it expected all-round year would reach by 6.7 trillion kip or 96.4 per cent of annual plan.
In the first six months of this year, electricity and water supply sectors were receded by 4.2 per cent, of which the electricity sector was decreased by 0.11 percent compared to last year?s period.
He said that although the global financial crisis affected the hydropower dam construction projects, especially Nam Thuen 1, Nam Ngum 3, Nam Ngiep 1 and Hongsa Lignite Powerhouse, the percentage of construction in this sector was still upward or increased by 10.1 per cent.
The telecom sector grew by 6.5 per cent and tourist sector also grew by 7.5 per cent and it expects whole year, more than 1.9 million tourists to visit Laos.
strange?, the world is in deep recession and the government of foreign countries pledged billions of dollars to help recover their economy. However, lao government do nothing but claims that economic will recover?
strange but true because Laos is not an industrial country, we dont have big business only agriculture and tourism that Laos does not invest too much. Just promote our country to foreigners about ecological tourism and tell them the security of Laos. Many people will come to Laos and spend some of their money for adventure and challenging Laos.
strange?, the world is in deep recession and the government of foreign countries pledged billions of dollars to help recover their economy. However, lao government do nothing but claims that economic will recover?
