ASEAN KEY DESTINATIONS
Currency depreciation, inflation challenge Laos
At a meeting on the implementation of the 2010-2011 socioeconomic development plan held by the ministries of Finance and Planning and Investment Prime Minister Bouasone said that the implementation of the national development plan would be challenged by the impacts of Lao kip depreciation against Thai baht and the high inflation rate despite the constant economic growth and stability.
However, it is expected that the government would achieve its targets. Mr. Bouasone urged the relevant authorities to increase their efforts to realise the economic growth rate of 8 percent and make sure that the state coffer account for 20.8 percent of the nation's gross domestic product (GDP) and limit the inflation rate at the level equaling to or less than the economic growth rate and stabilise the foreign exchange rate.
He asked the relevant authorities to increase the rice output to 3.38 million tonnes and reduce the percentage of poor households down to 19 per cent next year and increase the investment by different economic sectors to 32 per cent of the GDP.
"The 2010-2011 development plan is a leap-up one. It is designed to enable the country to have a fast, stable and sustainable economic growth, stabilising the state coffer and finance system, expanding communication infrastructure to rural areas and integrating the country with the region and the world over as well as achieving the UN millennium development goals and poverty reduction in the country as fast as possible," said Prime Minister Bouasone.
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