Laos growth forecast put at 7.7%

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Asian Development Outlook 2013: Asia’s Energy Challenge
Laos GDP growth (click to enlarge)

Laos’ GDP is expected to grow 7.7 per cent in 2013 as resource based industries, manufacturing and services continue to generate solid growth, according to the Asian Development Outlook 2013 released by the Asian Development Bank (ADB).

The country, among the poorest in Southeast Asia, will continue to see solid growth in the next few years, building on the achievements of the last five years, the ADB said, adding that substantial investment flowing into hydropower and mining, along with the construction of hotels, offices and residential buildings, will drive this growth.

It is expected by 2013 that hydropower plants will contribute to a 12 per cent increase in power generation, the agricultural sector will provide jobs to more than 60 per cent of the workforce, with recovery in rice production and expansion of the cattle industry. Tourist arrivals are expected to grow by 10-15 per cent.

The ADB report predicts a benign 5.5 per cent rate of inflation for 2013, with price pressures being manageable for now, but said these will need to be monitored closely.

Southeast Asia was the only sub-region to see growth accelerate year-on-year in 2012, led by a recovery in Thailand and strong public spending in the Philippines. This buoyancy is set to continue, backed by robust consumption, rising investment and increased intra-regional trade, with GDP growth projected at 5.4 per cent in 2013 and 5.7 per cent in 2014 in the region.

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Reading Time: 1 minute

Laos GDP growth (click to enlarge)

Laos’ GDP is expected to grow 7.7 per cent in 2013 as resource based industries, manufacturing and services continue to generate solid growth, according to the Asian Development Outlook 2013 released by the Asian Development Bank (ADB).

Reading Time: 1 minute

Asian Development Outlook 2013: Asia’s Energy Challenge
Laos GDP growth (click to enlarge)

Laos’ GDP is expected to grow 7.7 per cent in 2013 as resource based industries, manufacturing and services continue to generate solid growth, according to the Asian Development Outlook 2013 released by the Asian Development Bank (ADB).

The country, among the poorest in Southeast Asia, will continue to see solid growth in the next few years, building on the achievements of the last five years, the ADB said, adding that substantial investment flowing into hydropower and mining, along with the construction of hotels, offices and residential buildings, will drive this growth.

It is expected by 2013 that hydropower plants will contribute to a 12 per cent increase in power generation, the agricultural sector will provide jobs to more than 60 per cent of the workforce, with recovery in rice production and expansion of the cattle industry. Tourist arrivals are expected to grow by 10-15 per cent.

The ADB report predicts a benign 5.5 per cent rate of inflation for 2013, with price pressures being manageable for now, but said these will need to be monitored closely.

Southeast Asia was the only sub-region to see growth accelerate year-on-year in 2012, led by a recovery in Thailand and strong public spending in the Philippines. This buoyancy is set to continue, backed by robust consumption, rising investment and increased intra-regional trade, with GDP growth projected at 5.4 per cent in 2013 and 5.7 per cent in 2014 in the region.

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