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8 August 2009

Laos’ economy climbs 7% in H1

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Laos registered an economic growth rate of 7.1 percent in the first half of this year despite the global economic downturn, the Lao newspaper Vientiane Times reported Friday.

The economic growth of 7.1 percent in this period was attributed to good performance of foreign direct investment and exports of some key products, said Lao Deputy Planning and Investment Minister Bounthavy Sisouphanthong.

The Lao government is confident that the target of 7.5 percent economic growth this year would be achieved as business activitiesin Laos continue performing in a positive manner, said Leeber Leebouapao from the National Economic Institute of Laos.

The government initially set a target of 8 percent economic growth for the 2008-09 fiscal year. Then, the government adjusted the target to 7.5 percent as a result of the global economic recession, said Leeber.


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