An elevated fiscal deficit will result in growing public debt, which will ramp up pressure on Laos' debt servicing capacity amid the COVID-19 crisis, the Vientiane Times reported on August 21.
Vientiane (VNA) - An elevated fiscaldeficit will result in growing♕ public debt, which will ramp up pressure on Laos' debt servicing capacity amid the COVID-19 crisis, theV🐭ientiane Times reported on August 21.
The Lao Government has estimated that the budget deficit willrise from 6.69 trillion kip (700 million USD) , equal to 3.7 percent of the country’s grossdomestic product (GDP), to 10.3 trillion kip (1.1 billion USD), or 5.7 percent of the GDP. Chairman of the Lao National Assembly’s Planning, Finance andAudit Committee, Dr Leeber Leebouapao told the paper that the government isseeking ways to address the country’s debt following a revenue shortfall. The government may attempt to issue bonds to mobilise morefunds or borrow more money from various sources to repay debts and address theprojected budget deficit, he said. The World Bank (WB) also stated that public debt is expected torise to around 65 percent to 68 percent of GDP in 2020, leaving Laos at highrisk of debt distress. In June, Prime Minister Thongloun Sisoulith told the NationalAssembly that the government will issue bonds for the rest of this year torepay debts. Economists have recommended the government to assist theprivate sector, notably small and medium-sized enterprises to lower theirproduction costs in order to boost productivity for exports./.
ASEAN has become one of the most successful regional organisations in the world, with a host of tangible accomplishments on many fronts, Lao Foreign Minister Saleumxay Kommasith said in a message sent recently to the Lao people on the occasion of the 53rd founding anniversary of the bloc and the 23rd anniversary of Laos’ membership.
Party General Secretary and State President Nguyen Phu Trong discussed Vietnam-Laos relations over the phone with his counterpart Bounnhang Vorachith on August 13, calling for continued coordination in the COVID-19 fight.
Prime Minister Nguyen Xuan Phuc hosted a reception on August 14 for his Lao counterpart Thongloun Sisoulith, who is visiting Vietnam for the national mourning of former Party General Secretary Le Kha Phieu.
Vietnam has played an active role as the Chairman of the Association of Southeast Asian Nations (ASEAN) 2020, especially in leading the bloc in implementing the ASEAN’s initiatives and priorities in the context of the COVID-19 pandemic, Ambassador and Permanent Representative of Laos to ASEAN Ekkaphab Phanthavong told Vietnam News Agency’s correspondents in Jakarta.
The forum, which involves global experts and creative leaders from across 14 cultural sectors, aims to expand Thailand’s presence on the world stage through innovation and cultural exchange.
In his article, Oscar Sanchez Serra highlighted President Ho Chi Minh’s founding of the Thanh Nien (Young People) newspaper on June 21, 1925, which marked the birth of Vietnam's revolutionary press rooted in a bold and far-sighted vision.
Several ASEAN meetings are scheduled to take place in Port Dickson this September, including the Senior Officials' Meeting (SOM) for ASEAN Plus Three (APT), the East Asia Summit (EAS), the 15th ASEAN Maritime Forum, and the 13th Expanded ASEAN Maritime Forum.
Thailand's Prime Minister Paetongtarn Shinawatra has ordered the urgent implementation of a national policy to crack down on all forms of call centre scams, online fraud, and illegal gambling, which are now considered threats to national security.
Coordinating Minister for Economic Affairs Airlangga Hartarto and EAEU Trade Minister Andrey Slepnev jointly declared the conclusion of FTA talks on the sidelines of the 28th St. Petersburg International Economic Forum (SPIEF 2025), according to the statement.
The article stressed that throughout his revolutionary career, the founder of modern Vietnam consistently regarded the revolutionary press as a vital part of the Vietnamese Party’s and nation’s revolutionary struggle.
Pichai said the trade talks with the US are important and need to move forward professionally, without regard for any political changes in Thailand, believing that Thailand has clear principles, guidelines and procedures in place.
The tax adjustment supports the Malaysian Government’s strategy to reduce reliance on foreign food supply chains and to assist domestic farmers, a finance official has said.
The proposed venue is located in the Chatuchak area of Bangkok, featuring eight public sites, including Krungthep Aphiwat Central Terminal and several nearby parks.
Connectivity is expected to improve further with the completion of the fifth Laos–Thailand Friendship Bridge by the end of 2025, facilitating logistics and agricultural exports to Vietnam, Thailand, and China.
Two naval gunboats intercepted a fishing vessel carrying 1.5 tonnes of methamphetamine hydrochloride off the coast of the main island of Luzon just before dawn, in a joint operation with the Philippine Drug Enforcement Agency.
In the today context of socio-economic development and growth, the professionalism of Vietnam’s revolutionary journalists continues to rise, guided by exemplary mastery of new information technologies and the modernisation of their founding principles to preserve the enduring values of revolutionary journalism.
Thai Permanent Secretary of the Ministry of Commerce Vuttikrai Leewiraphan Thailand's formal proposal will be substantial enough for the US to consider further detailed negotiations. He hoped for a tariff rate not exceeding 10% and suggested that the US might extend the negotiation period if an agreement is not reached by the July 8 deadline.
Organised by the Ministry of Culture and the Association of Thai Silk & Culture Promotions, the event honors Her Majesty the Queen on her 47th birthday anniversary and promotes Thai craftsmanship on an international stage.
Prensa Latina's recent article on Vietnam’s assurance of smooth and effective transition to a leaner structure highlighted Prime Minister Pham Minh Chinh’s latest directions on implementing 28 resolutions regarding the decentralisation and delegation of authority.
The lab focuses on four key thematic areas: energy transition and green innovation, sustainable agriculture, circular economy and sustainable cities, and nature-based solutions and biodiversity.
The key content of the document titled "Accelerating Innovative Strategies: Addressing the OOSCY Challenges" will be refined further in a seminar preceding the 47th ASEAN Summit in Kuala Lumpur this October.
In Vientiane, Laos (Photo: Reuters) 
