Publication:
Lao Economic Monitor, May 2016: Challenges in Promoting More Inclusive Growth and Shared Prosperity

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dc.contributor.authorNajdov, Evgenij
dc.contributor.authorPhimmahasay, Keomanivone
dc.date.accessioned2016-05-31T20:26:10Z
dc.date.available2016-05-31T20:26:10Z
dc.date.issued2016-05-01
dc.description.abstractThe Lao economy is estimated to have expanded by around 7 percent in 2015, a slight moderation from 7.5 percent in 2014. Similar to the last decade, the resource sectors (hydropower and extractives) continued to make an important contribution to growth. Power generation got a boost from the commissioning of the first two blocks of the 1,878 MW Hongsa lignite power plant and an additional 250-300 MW of installed capacity in the hydro sector. Furthermore, despite lower global commodity prices, mining output still increased as metal prices remained above the mines’ cost recovery levels. The revised State Budget Law, approved in December 2015, enhances the authority of the National Assembly in budget oversight and Ministry of Finance in budget management. In addition, with regards to anti-money laundering and counter-terrorism financing, the Government strengthened key regulations (including on forfeiture of assets, border declaration, penalties for non-compliant entities) recommended by the Financial Action Task Force (FATF), which helped remove Lao PDR from the FATF’s list of ‘jurisdictions not making sufficient progress’. The outlook will depend on the progress in the implementation of the recommendations and agreed measures. GDP is expected to expand at around 7 percent per annum as a healthy pipeline in the power sector keeps investments strong and increases electricity production and exports by almost 40 percent. Stabilization of growth rates in China and some acceleration in Vietnam and Thailand should increase demand for Lao PDR exports. On the other hand, some gradual fiscal consolidation is expected, largely through broadening the revenue base and efforts to improve efficiency in spending and should help strengthen the outlook for public debt sustainability and lower the risk of debt distress from its current level of moderate, but borderline to high.en
dc.identifierhttp://documents.worldbank.org/curated/en/2016/05/26379887/lao-economic-monitor-challenges-promoting-more-inclusive-growth-shared-prosperity-thematic-section-drivers-poverty-reduction-lao-pdr
dc.identifier.doi10.1596/24372
dc.identifier.urihttps://hdl.handle.net/10986/24372
dc.languageEnglish
dc.language.isoen_US
dc.publisherWorld Bank, Washington, DC
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo/
dc.subjectLIVING STANDARDS
dc.subjectTARIFFS
dc.subjectTERRORISM
dc.subjectDEFICIT
dc.subjectDEPOSIT
dc.subjectGOVERNMENT EXPENDITURES
dc.subjectOIL PRICE
dc.subjectNPL
dc.subjectEQUIPMENT
dc.subjectACCOUNTING
dc.subjectDEPOSITS
dc.subjectBROAD MONEY
dc.subjectFINANCIAL MANAGEMENT
dc.subjectSTOCK
dc.subjectINTEREST
dc.subjectPUBLIC INVESTMENTS
dc.subjectDEBT STOCK
dc.subjectBANKING SECTOR ASSET
dc.subjectEXCHANGE
dc.subjectGOVERNMENT REVENUES
dc.subjectBALANCE OF PAYMENTS
dc.subjectDISCOUNT RATE
dc.subjectECONOMIC DEVELOPMENTS
dc.subjectRESERVE REQUIREMENTS
dc.subjectDEBT MANAGEMENT
dc.subjectREPAYMENTS
dc.subjectREVENUES
dc.subjectPORTFOLIO
dc.subjectBONDS
dc.subjectLOAN
dc.subjectDISCOUNT
dc.subjectBORROWERS
dc.subjectTRADE SECTOR
dc.subjectTAX
dc.subjectPUBLIC BORROWING
dc.subjectNON-PERFORMING LOANS
dc.subjectRESERVE
dc.subjectCREDITORS
dc.subjectINFLATION
dc.subjectDEBT BURDEN
dc.subjectCREDITOR
dc.subjectFOREIGN INVESTMENTS
dc.subjectSAFETY NETS
dc.subjectBANK LENDING
dc.subjectBUDGET
dc.subjectMATURITY
dc.subjectMACROECONOMIC STABILITY
dc.subjectTRADE BALANCE
dc.subjectOIL PRICES
dc.subjectINVESTMENT SPENDING
dc.subjectCURRENCY
dc.subjectCOMMERCIAL BORROWING
dc.subjectENFORCEMENT OF CONTRACTS
dc.subjectCOMMERCIAL BANK
dc.subjectPORTFOLIOS
dc.subjectINCOME GROWTH
dc.subjectCONTRACTS
dc.subjectINFLATIONARY PRESSURES
dc.subjectFINANCES
dc.subjectFOREIGN CURRENCIES
dc.subjectBOND ISSUANCE
dc.subjectTRADING
dc.subjectOPTIONS
dc.subjectDEBT OUTSTANDING
dc.subjectINTEREST RATES
dc.subjectMONETARY FUND
dc.subjectMARKETS
dc.subjectDEBT
dc.subjectCAPITAL MARKET
dc.subjectINFLATIONARY PRESSURE
dc.subjectHOUSEHOLD INCOME
dc.subjectINFLATION RATE
dc.subjectSETTLEMENT
dc.subjectCREDITOR RIGHTS
dc.subjectLOANS
dc.subjectDIRECT INVESTMENT
dc.subjectRESERVES
dc.subjectDEBT SERVICE
dc.subjectGROSS DOMESTIC PRODUCT
dc.subjectMONETARY AUTHORITIES
dc.subjectFINANCE
dc.subjectFOREIGN CURRENCY
dc.subjectPUBLIC INVESTMENT
dc.subjectTAXES
dc.subjectBANKING SECTOR
dc.subjectFISCAL DEFICIT
dc.subjectEXPENDITURE
dc.subjectDEBT FINANCING
dc.subjectINTERNATIONAL STANDARDS
dc.subjectCREDIT EXPANSION
dc.subjectEQUITY
dc.subjectINVESTORS
dc.subjectCOMMERCIAL BANK LENDING
dc.subjectECONOMIC RISKS
dc.subjectHUMAN CAPITAL
dc.subjectINTEREST PAYMENTS
dc.subjectGOOD
dc.subjectGOVERNMENT BUDGET
dc.subjectFUTURE
dc.subjectFOREIGN DIRECT INVESTMENT
dc.subjectRETURNS
dc.subjectFARMING HOUSEHOLDS
dc.subjectINVESTMENT PROJECTS
dc.subjectPRICE CHANGES
dc.subjectDISBURSEMENTS
dc.subjectEXPENDITURES
dc.subjectCREDIT INFORMATION
dc.subjectAMORTIZATION
dc.subjectISSUANCE
dc.subjectCURRENT ACCOUNT DEFICIT
dc.subjectPOTENTIAL INVESTMENT
dc.subjectLOAN PORTFOLIO
dc.subjectMARKET
dc.subjectLOCAL CURRENCY
dc.subjectNON-PERFORMING LOAN
dc.subjectPUBLIC DEBT
dc.subjectBALANCE OF PAYMENT
dc.subjectSOLVENCY
dc.subjectINSURANCE
dc.subjectCURRENCIES
dc.subjectECONOMIC DEVELOPMENT
dc.subjectINVESTOR
dc.subjectGOODS
dc.subjectBANK BRANCH
dc.subjectLENDING INTEREST RATES
dc.subjectINVESTMENT
dc.subjectBOND
dc.subjectCOMMERCIAL BANKS
dc.subjectSHARE
dc.subjectLOAN PORTFOLIOS
dc.subjectINVESTMENT CLIMATE
dc.subjectPUBLIC FINANCES
dc.subjectPOVERTY
dc.subjectLOAN SIZE
dc.subjectPOLITICAL STABILITY
dc.subjectCAPITAL INFLOWS
dc.subjectBANK SUPERVISION
dc.subjectREVENUE
dc.subjectEXTERNAL DEBT
dc.subjectPROFIT
dc.subjectINVESTMENTS
dc.subjectLENDING
dc.subjectCONSUMER PRICE INDEX
dc.subjectCREDIT GROWTH
dc.subjectBANKING SECTOR ASSETS
dc.subjectMATURITIES
dc.subjectEXCHANGE RATE
dc.subjectFISCAL DISCIPLINE
dc.subjectDEBT SERVICING
dc.subjectPUBLIC DEBT STOCK
dc.subjectPUBLIC SPENDING
dc.subjectCOMMODITY PRICES
dc.subjectEQUITY STAKES
dc.subjectARREARS
dc.subjectCAPITAL ACCOUNT
dc.subjectEXTERNAL BORROWING
dc.titleLao Economic Monitor, May 2016en
dc.title.subtitleChallenges in Promoting More Inclusive Growth and Shared Prosperityen
dc.typeReporten
dc.typeRapportfr
dc.typeInformees
dspace.entity.typePublication
okr.crossref.titleLao Economic Monitor, May 2016
okr.date.disclosure2016-05-19
okr.doctypeEconomic & Sector Work::Economic Updates and Modeling
okr.doctypeEconomic & Sector Work
okr.docurlhttp://documents.worldbank.org/curated/en/2016/05/26379887/lao-economic-monitor-challenges-promoting-more-inclusive-growth-shared-prosperity-thematic-section-drivers-poverty-reduction-lao-pdr
okr.guid515521468197368035
okr.guid923311467807300837
okr.identifier.doi10.1596/24372
okr.identifier.externaldocumentum090224b0843a07f9_2_0
okr.identifier.internaldocumentum26379887
okr.identifier.reportAUS17628
okr.importedtrue
okr.language.supporteden
okr.pdfurlhttp://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2016/05/19/090224b084342dc1/1_0/Rendered/PDF/Lao0economic0m0reduction0in0Lao0PDR.pdfen
okr.region.administrativeEast Asia and Pacific
okr.region.countryLao People's Democratic Republic
okr.sectorIndustry and trade
okr.sectorAgriculture, fishing, and forestry
okr.sectorEnergy and mining
okr.sectorPublic Administration, Law, and Justice
okr.sectorFinance
okr.themeEconomic management :: Analysis of economic growth
okr.themeEconomic management :: Economic statistics, modeling and forecasting
okr.topicMacroeconomics and Economic Growth::Economic Growth
okr.topicFinance and Financial Sector Development::Access to Finance
okr.topicEnvironment::Environmental Economics & Policies
okr.topicFinance and Financial Sector Development::Debt Markets
okr.topicFinance and Financial Sector Development::Currencies and Exchange Rates
okr.unitGMF- East Asia (GMF02)
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