Publication:
Lao PDR Economic Monitor, May 2010: Lao PDR Recent Economic Developments

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dc.contributor.authorWorld Bank
dc.date.accessioned2017-08-14T19:47:34Z
dc.date.available2017-08-14T19:47:34Z
dc.date.issued2010-05
dc.description.abstractReal gross domestic product (GDP) growth, which was estimated at 7 percent in 2009, is expected to increase to 7.8 percent in 2010 driven largely by resource sectors. Out of this growth of 7.8 percent, around 3.3 percentage points comes from power sector (mainly NT2 - nearly 3 percentage points), 0.9 percentage points from agriculture, around 0.4 percentage points for each of mining and construction, 0.8 percentage points from manufacturing and about 1.7 percentage points from services sector (tourism and retail trade, financial sector services as a result of the recent sharp increases in bank lending, and transport and telecommunication services). Real gross national income (GNI) is expected to slow to nearly 6 percent this year compared to 9.5 percent in 2009 due to significant outflows of income (profit repatriation and interest payment) from resources sectors (mining and hydropower). Although international reserves remained fairly stable during the last six months, net foreign assets dropped by 25 percent. Gross official Reserves at the Bank of Lao PDR were estimated at about $635 million during Oct 2009-Mar 2010 of which $65 million can be attributed to an increase in the International Monetary Fund's (IMF's) SDR allocation in late 2009 and $63 million have been borrowed from domestic banks through sales of foreign currency denominated bonds by the Bank of Lao (BoL). Net foreign assets declined by 25 percent in 2009 and 23 percent in Mar 2010 due to rapid credit expansion and import growth. The current account deficit is projected to decline from 10.6 percent of GDP in 2009 to 7.7 percent in 2010 supported by strong export growth, and in particular NT2 exports of electricity to Thailand. The capital account surplus is expected to decrease slightly from 10.6 percent of GDP in 2009 to 10.1 percent this year although FDI started to rebound. The overall balance is likely to turn into surplus in 2010 to about 2.4 percent of GDP. Credit grew rapidly in 2009 and in the first quarter of 2010 but is expected to slow by end?2010. Credits grew by about 90 percent last year and during Jan-Mar 2010 partly due to BOL's direct lending to local projects to finance public infrastructure and associated imports (about 22 percentage points of total credit growth). As the Government of Lao (GOL) made a decision to stop quasi?fiscal activities in September 2009 and bank liquidity tightened (loan to deposit ratio increased significantly to 73 percent by end-2009 from 55 percent in 2008), credit growth is expected to slow in 2010.en
dc.identifierhttp://documents.worldbank.org/curated/en/497651468278689170/Lao-PDR-economic-monitor-recent-economic-developments
dc.identifier.doi10.1596/27767
dc.identifier.urihttps://hdl.handle.net/10986/27767
dc.languageEnglish
dc.language.isoen_US
dc.publisherWashington, DC
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo
dc.subjectADVANCED ECONOMIES
dc.subjectAGRICULTURE
dc.subjectBALANCE OF PAYMENTS
dc.subjectBANK CREDIT
dc.subjectBANK CREDITS
dc.subjectBANK LENDING
dc.subjectBANK LIQUIDITY
dc.subjectBANK OFFICE
dc.subjectBANK SUPERVISION
dc.subjectBANKING SECTOR
dc.subjectBANKING SERVICES
dc.subjectBANKING SYSTEM
dc.subjectBONDS
dc.subjectBROAD MONEY
dc.subjectBUDGET DEFICIT
dc.subjectBUSINESS PERFORMANCE
dc.subjectCAPITAL ACCOUNT
dc.subjectCAPITAL GOODS
dc.subjectCOMMODITY
dc.subjectCOMMODITY PRICE
dc.subjectCOMMODITY PRICES
dc.subjectCONSUMER GOODS
dc.subjectCORE INFLATION
dc.subjectCREDIT EXPANSION
dc.subjectCREDIT GROWTH
dc.subjectCURRENT ACCOUNT
dc.subjectCURRENT ACCOUNT BALANCE
dc.subjectCURRENT ACCOUNT DEFICIT
dc.subjectDEBT
dc.subjectDEBT SERVICE
dc.subjectDEBT STOCK
dc.subjectDEPOSIT
dc.subjectDEPOSIT INTEREST
dc.subjectDEPOSIT INTEREST RATE
dc.subjectDEPOSIT RATE
dc.subjectDEPOSITS
dc.subjectDEVELOPING ECONOMIES
dc.subjectDOMESTIC BANKS
dc.subjectDOMESTIC CREDIT
dc.subjectDOMESTIC DEBT
dc.subjectDURABLE
dc.subjectECONOMIC CRISIS
dc.subjectECONOMIC DEVELOPMENTS
dc.subjectECONOMIC ENVIRONMENT
dc.subjectECONOMIC GROWTH
dc.subjectECONOMIC OUTLOOK
dc.subjectEQUIPMENT
dc.subjectEXCHANGE RATE
dc.subjectEXCHANGE RATE POLICY
dc.subjectEXPENDITURE
dc.subjectEXPENDITURES
dc.subjectEXPORT EARNINGS
dc.subjectEXPORT GROWTH
dc.subjectEXPORTS
dc.subjectEXTERNAL BALANCE
dc.subjectFINANCIAL CRISIS
dc.subjectFINANCIAL SECTOR
dc.subjectFOOD PRICES
dc.subjectFOREIGN ASSETS
dc.subjectFOREIGN CURRENCY
dc.subjectFOREIGN DIRECT INVESTMENT
dc.subjectGDP DEFLATOR
dc.subjectGLOBAL DEMAND
dc.subjectGLOBAL ECONOMY
dc.subjectGOLD
dc.subjectGOVERNMENT BOND
dc.subjectGOVERNMENT REVENUE
dc.subjectGROWTH RATE
dc.subjectHOLDINGS
dc.subjectIMPORT
dc.subjectIMPORT GROWTH
dc.subjectIMPORTS
dc.subjectINCOME
dc.subjectINFLATION
dc.subjectINFRASTRUCTURE PROJECTS
dc.subjectINTEREST PAYMENT
dc.subjectINTEREST RATE
dc.subjectINTEREST RATE SPREAD
dc.subjectINTEREST RATES
dc.subjectINTERNATIONAL RESERVE
dc.subjectINTERNATIONAL RESERVES
dc.subjectLIQUIDITY
dc.subjectLOAN
dc.subjectLOAN REPAYMENT
dc.subjectLONG-TERM INTEREST
dc.subjectLONG-TERM INTEREST RATE
dc.subjectM2
dc.subjectMATURITY
dc.subjectNATURAL RESOURCE
dc.subjectNATURAL RESOURCES
dc.subjectOIL COMMODITIES
dc.subjectOIL PRICE
dc.subjectOUTPUT
dc.subjectPEG
dc.subjectPRIVATE HOUSING
dc.subjectPROJECT GRANTS
dc.subjectPUBLIC CONFIDENCE
dc.subjectPUBLIC DEBT
dc.subjectRAPID CREDIT EXPANSION
dc.subjectRAPID EXPANSION
dc.subjectREAL GDP
dc.subjectREAL LONG-TERM INTEREST RATE
dc.subjectRESERVE
dc.subjectRESERVES
dc.subjectSLOWDOWN
dc.subjectSTOCK MARKETS
dc.subjectSURPLUS
dc.subjectSWAP
dc.subjectTAX
dc.subjectTOTAL CREDIT
dc.subjectTOTAL DEPOSITS
dc.subjectTOTAL EXPORTS
dc.subjectTOTAL IMPORTS
dc.subjectTOTAL REVENUE
dc.subjectTRADE BALANCE
dc.subjectTRADE SURPLUS
dc.subjectTRADE VOLUME
dc.subjectTRADING
dc.subjectTRANSPORT
dc.subjectUNCERTAINTY
dc.subjectWAGES
dc.subjectWORLD TRADE
dc.titleLao PDR Economic Monitor, May 2010en
dc.title.subtitleLao PDR Recent Economic Developmentsen
dc.typeReporten
dc.typeRapportfr
dc.typeInformees
dspace.entity.typePublication
okr.crossref.titleLao PDR Economic Monitor, May 2010
okr.date.disclosure2012-01-31
okr.date.doiregistration2025-05-07T08:55:24.640227Z
okr.doctypeEconomic & Sector Work::Economic Updates and Modeling
okr.doctypeEconomic & Sector Work
okr.docurlhttp://documents.worldbank.org/curated/en/497651468278689170/Lao-PDR-economic-monitor-recent-economic-developments
okr.guid497651468278689170
okr.identifier.externaldocumentum000333038_20120201031537
okr.identifier.internaldocumentum15763716
okr.identifier.report66584
okr.importedtrue
okr.language.supporteden
okr.pdfurlhttp://documents.worldbank.org/curated/en/497651468278689170/pdf/665840NWP00PUB0365795B00LEM0May2010.pdfen
okr.region.administrativeEast Asia and Pacific
okr.region.countryLao People's Democratic Republic
okr.themeEconomic management :: Analysis of economic growth
okr.themeEconomic management :: Macroeconomic management
okr.topicFinance and Financial Sector Development::Currencies and Exchange Rates
okr.topicInternational Economics and Trade::Capital Flows
okr.topicMacroeconomics and Economic Growth::Economic Growth
okr.topicMacroeconomics and Economic Growth::Fiscal & Monetary Policy
okr.topicMacroeconomics and Economic Growth::Inflation
okr.unitMacro & Fiscal Mgmt - GP (GMFDR)
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