Publication:
Tightening Demand to Maintain Macroeconomic Balances : Lao PDR Economic Monitor, November 2012

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dc.contributor.authorWorld Bank
dc.date.accessioned2013-06-06T21:52:12Z
dc.date.available2013-06-06T21:52:12Z
dc.date.issued2012-11
dc.description.abstractGlobal and regional economic development continues to face uncertainties in 2012. East Asia and the Pacific region's growth is estimated to slow down compared to 2011, but remains robust compared with other regions thanks to sustained domestic investment and consumption. Lao PDR continues to maintain robust growth this year but faces a challenge to manage domestic demand. On the supply side, the construction, services, industry and agriculture sectors are the main drivers of growth; while on the demand side, public spending and private investment including demand driven by preparations for the Asia-Europe Meeting (ASEM) has played an important role in boosting the economy this year. In spite of robust growth, inflation has been declining, mostly on account of declining food and fuel inflation. However, home-grown and external risks associated with low reserves coverage, increased exposure to mining revenues, fast banking expansion with limited supervision capacity and a large number of newly announced large investment projects warrant close monitoring to preserve macroeconomic stability and sustainable growth. Stronger than expected revenue performance from the mining sector and external grants contributed to an improvement in the fiscal performance in FY11/12.With the contribution of mining revenue increasing, closely monitoring commodity price fluctuations is becoming increasingly important. The fiscal deficit in FY12/13 is expected to slightly widen as a result of a planned wage increase. Strong pressure on external reserves calls for tightening of aggregate demand. Credit growth remains high and is putting pressure on falling reserves. Credit growth has picked up in June 2012 driven by increased credit to the private sector and SOEs. Private sector credit growth is driven by buoyant performance in construction, manufacturing and service sectors. The Bank of Lao PDR's disbursements to local infrastructure projects have moderated compared to their peak in 2009, but are ongoing as a result of previous commitments.en
dc.identifier.doi10.1596/13812
dc.identifier.urihttps://hdl.handle.net/10986/13812
dc.language.isoen_US
dc.publisherWorld Bank, Vientiane
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo/
dc.subjectaccess to education
dc.subjectadvanced economies
dc.subjectaggregate demand
dc.subjectAgricultural output
dc.subjectagricultural sector
dc.subjectagriculture
dc.subjectAgriculture Organization
dc.subjectannual growth
dc.subjectBalance of Payment
dc.subjectbalance of payments
dc.subjectbank debt
dc.subjectBank Office
dc.subjectbanking sector
dc.subjectbond
dc.subjectbond issuance
dc.subjectborrowing
dc.subjectbusiness training
dc.subjectcapital account
dc.subjectcapital base
dc.subjectcapital goods
dc.subjectcapital goods imports
dc.subjectcapital inflows
dc.subjectcash transfer
dc.subjectCommercial Banks
dc.subjectcommercial borrowing
dc.subjectcommodity price
dc.subjectcommodity prices
dc.subjectcomparative advantage
dc.subjectcompetitive advantage
dc.subjectcompetitiveness
dc.subjectConsumer goods
dc.subjectConsumer Price Index
dc.subjectconsumers
dc.subjectconsumption goods
dc.subjectconsumption levels
dc.subjectCore inflation
dc.subjectcredit growth
dc.subjectcreditors
dc.subjectCredits
dc.subjectcurrency exchange
dc.subjectcurrent account
dc.subjectcurrent account deficit
dc.subjectDebt Management
dc.subjectdebt repayment
dc.subjectDebt service
dc.subjectdebt servicing
dc.subjectdebt stock
dc.subjectdebt sustainability
dc.subjectdeposit
dc.subjectdeposits
dc.subjectDevelopment Bank
dc.subjectdisbursements
dc.subjectdiversification
dc.subjectdomestic consumption
dc.subjectdomestic debt
dc.subjectdomestic demand
dc.subjecteconomic crisis
dc.subjecteconomic development
dc.subjecteconomic developments
dc.subjecteconomic growth
dc.subjecteconomic life
dc.subjecteconomic opportunities
dc.subjecteconomic opportunity
dc.subjectEconomic Outlook
dc.subjecteconomic reforms
dc.subjectEffective Exchange Rate
dc.subjectempowerment
dc.subjectempowerment of women
dc.subjectendowments
dc.subjectentrepreneurs
dc.subjectequipment
dc.subjectethnic groups
dc.subjectExchange Rate
dc.subjectexchange rate intervention
dc.subjectexchange rate stability
dc.subjectEXPENDITURE
dc.subjectExpenditures
dc.subjectexport commodity
dc.subjectexport earnings
dc.subjectexport performance
dc.subjectExporters
dc.subjectExports
dc.subjectexposure
dc.subjectexternal debt
dc.subjectexternal shock
dc.subjectfarm enterprises
dc.subjectfarmer
dc.subjectfarmers
dc.subjectfarming households
dc.subjectFinancial Analysis
dc.subjectFinancial Information
dc.subjectfiscal deficit
dc.subjectfiscal deficits
dc.subjectfiscal operations
dc.subjectfixed rate
dc.subjectfloating exchange rate
dc.subjectfloating exchange rate regime
dc.subjectForeign Asset
dc.subjectForeign Assets
dc.subjectforeign currencies
dc.subjectforeign currency
dc.subjectForeign Direct Investment
dc.subjectforeign exchange
dc.subjectforeign exchange reserves
dc.subjectforeign investment
dc.subjectforeign investors
dc.subjectforeign reserves
dc.subjectGDP
dc.subjectGender
dc.subjectGender Assessment
dc.subjectgender equality
dc.subjectgender equity
dc.subjectgender gaps
dc.subjectgender inequality
dc.subjectgender issues
dc.subjectgender mainstreaming
dc.subjectgender relations
dc.subjectglobal economy
dc.subjectGold
dc.subjectgold price
dc.subjectgovernment bonds
dc.subjectGovernment investments
dc.subjectgovernment policy
dc.subjectGovernment Revenues
dc.subjectGross Domestic Product
dc.subjectgrowth performance
dc.subjectgrowth rate
dc.subjectgrowth rates
dc.subjecthousehold food security
dc.subjecthouseholds
dc.subjecthuman capital
dc.subjecthuman development
dc.subjectHuman Resources
dc.subjectimports
dc.subjectimports of consumption
dc.subjectincome
dc.subjectincome level
dc.subjectincome tax
dc.subjectinflation
dc.subjectinflation rate
dc.subjectInformation System
dc.subjectinfrastructure investments
dc.subjectinstitutional support
dc.subjectinstrument
dc.subjectInterest payment
dc.subjectinternational markets
dc.subjectinternational reserves
dc.subjectinvestment plan
dc.subjectinvestment projects
dc.subjectjob creation
dc.subjectjob opportunities
dc.subjectkey challenge
dc.subjectlegal reform
dc.subjectlegal system
dc.subjectliquidity
dc.subjectliving standards
dc.subjectLoan
dc.subjectlocal government
dc.subjectlocal infrastructure
dc.subjectM2
dc.subjectmacroeconomic stability
dc.subjectmaturity
dc.subjectMonetary Fund
dc.subjectnatural resources
dc.subjectNon-Performing Loan
dc.subjectNon-performing loans
dc.subjectnPl
dc.subjectnutrition
dc.subjectOil price
dc.subjectpopulation growth
dc.subjectportfolio
dc.subjectportfolio investment
dc.subjectpositive spillover
dc.subjectprice fluctuations
dc.subjectPrice Indexes
dc.subjectprivate investment
dc.subjectPrivate sector credit
dc.subjectpublic borrowing
dc.subjectPublic debt
dc.subjectPublic Debt management
dc.subjectpublic external debt
dc.subjectPublic Finance
dc.subjectpublic investment
dc.subjectPublic Offerings
dc.subjectpublic spending
dc.subjectReal Effective Exchange Rate
dc.subjectreal estate
dc.subjectReal GDP
dc.subjectreceipts
dc.subjectregional markets
dc.subjectrepayments
dc.subjectreserves
dc.subjectretail trading
dc.subjectreturns
dc.subjectrisk of debt
dc.subjectSecurities
dc.subjectSecurities Exchange
dc.subjectslowdown
dc.subjectSocial Development
dc.subjectstrong demand
dc.subjectsupply side
dc.subjectsupport infrastructure
dc.subjectSurplus
dc.subjectsurplus country
dc.subjectsurpluses
dc.subjecttechnical assistance
dc.subjecttelecommunications
dc.subjectTotal credit
dc.subjectTotal imports
dc.subjecttotal revenue
dc.subjecttrade integration
dc.subjecttrade policies
dc.subjecttrade policy
dc.subjecttrading
dc.subjecttrading partners
dc.subjecttreasury
dc.subjecttreasury bill
dc.subjectturnover
dc.subjectuncertainties
dc.subjectUnion
dc.subjectValue Added
dc.subjectvillage
dc.subjectvillages
dc.subjectvulnerable groups
dc.subjectwages
dc.subjectweak demand
dc.subjectwoman
dc.subjectWorld Trade
dc.subjectWorld Trade Organization
dc.subjectWTO
dc.titleTightening Demand to Maintain Macroeconomic Balances : Lao PDR Economic Monitor, November 2012en
dspace.entity.typePublication
okr.date.disclosure2012-12-19
okr.date.doiregistration2025-05-07T10:05:51.656891Z
okr.doctypeEconomic & Sector Work
okr.globalpracticeMacroeconomics and Fiscal Management
okr.globalpracticeFinance and Markets
okr.globalpracticeTrade and Competitiveness
okr.identifier.report74305
okr.language.supporteden
okr.region.administrativeEast Asia and Pacific
okr.region.countryLao People's Democratic Republic
okr.sectorAgriculture, fishing, and forestry
okr.sectorPublic Administration, Law, and Justice
okr.sectorFinance
okr.sectorIndustry and trade
okr.themeEconomic management :: Analysis of economic growth
okr.themeEconomic management :: Economic statistics, modeling and forecasting
okr.themeEconomic management :: Macroeconomic management
okr.themePublic sector governance :: Other public sector governance
okr.topicFinance and Financial Sector Development::Access to Finance
okr.topicFinance and Financial Sector Development::Currencies and Exchange Rates
okr.topicFinance and Financial Sector Development::Debt Markets
okr.topicMacroeconomics and Economic Growth::Economic Theory & Research
okr.topicPrivate Sector Development::Emerging Markets
okr.unitSoutheast Asia PREM Sector (EASPT)
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