Vientiane (VNA) – The Lao government has setthe goal of achieving a 7 percent gross domestic product (GDP) growth by 2018,said the Vientiane Times on September 12.
If achieved, the GDP per capita will amount to 2,567 USD.
During a recent two-day government meeting, Lao Minister ofPlanning and Investment Souphanh Keomixay presented a draft socio-economicdevelopment plan for 2018.
Accordingly, agriculture is expected to grow by 2.8 percentwhile industry will expand by 9.1 percent, down from 9.53 percent in 2017. Theservice sector is set to grow by 6.4 percent, up from 6.15 percent in 2017.
Revenue from import tariff is scheduled to increase by 9percent, up from 6.9 percent set for 2017.
The government will also strive to collect about 3 billionUSD to the State budget and curb spending below 4 billion USD. Inflation ratewill be kept below 5 percent.
The plan will be submitted to the Lao legislature in theOctober meeting for approval.-VNA
The 10th National Congress of the Lao People’s Revolutionary Party (LPRP) kicked off in Vientiane on January 18, a turning point marking the strong development of the party in both quantity and qualit
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The Lao economy is projected to grow around 7 percent annually between 2017 and 2019, according to the latest edition of the World Bank's Lao Economic Monitor released in Vientiane on May 24.
Laos has huge potential for developing tourist sites and a number of incentives have been introduced to promote investment in this field, reported Vientiane Times daily newspaper.
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Illustrative image (Source: VNA) 
