Lao People’s Democratic Republic: 2008 Article IV Consultation: Staff Report; Staff Supplement; Staff Statement; and Public Information Notice on the Executive Board Discussion

Author: International Monetary Fund

Volume/Issue: Volume 2008 Issue 350

Publication date: October 2008

ISBN: 9781451822632

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Topics covered in this book

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Banks and Banking , Exports and Imports , Inflation , Money and Monetary Policy , Public Finance , Public Policy - Social Services and Welfare , ISCR , CR , GDP , debt , deficit , pass-through price , staff appraisal , headline inflation , inflation pressure , resource sector , GDP deflator , Inflation , Poverty reduction strategy , Global , Mekong , Southeast Asia

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Summary

This 2008 Article IV Consultation highlights that Lao People’s Democratic Republic’s (PDR) economy has performed well in recent years, owing to generally stable macroeconomic conditions and a rapidly expanding natural resource sector. Real GDP growth has averaged more than 7 percent since 2004. Growth is projected to reach 7½ percent in 2008, driven by similar factors as last year, as well as higher mining output. The medium-term outlook for Lao PDR remains positive, but hinges on sound development of the resource sector and other steps to strengthen competitiveness.