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Lao PDR economic monitor : impact of the global financial crisis and recent economic developments (英语)

Gross domestic product (GDP) growth in Lao People' s Democratic Republic (PDR) is less affected by the global financial crisis than in many of its neighbors. The crisis is transmitted mainly through foreign direct investment (FDI), and prices and demand for exports. As a result, the real GDP growth is projected to slow to 5 percent in 2009 but remains fairly robust. The inflation has been low in recent months due to lower imported commodity prices. South-East Asian (SEA) games related spending and recent high credit growth while acting as a stimulus have started to jeopardize balance of payments stability. After significant appreciation in 2008, kip exchange rates remained fairly stable against major foreign currencies, but at a cost of sharp fall in reserves. Government of Lao's (GOL) budget deficit is expected to rise in FY2009 due to the crisis and increased spending. The main challenge going forward is to maintain macroeconomic stability while dealing with crisis impacts and expenditure pressures.


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    Lao PDR economic monitor : impact of the global financial crisis and recent economic developments

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