Lao People's Democratic Republic: Staff Report for the 2013 Article IV Consultation

December 20, 2013

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Lao People's Democratic Republic: Staff Report for the 2013 Article IV Consultation, (USA: International Monetary Fund, 2013) accessed September 20, 2024

Summary

This 2013 Article IV Consultation highlights that over the past year, the economy of the Lao People’s Democratic Republic has been overheating from expansionary macroeconomic policies. The fiscal deficit is estimated to have widened to 6½ percent of GDP, mainly fro'm a doubling of public sector employee compensation and higher capital spending. Government liquidity is tight, and wage and other arrears of 2–3 percent of GDP have emerged. Monetary policy has been accommodative, and credit growth remains vigorous. Although medium-term growth prospects remain favorable, based on robust natural resource exports and post-WTO expansion in the nonresource sectors, heightened vulnerabilities have subjected the outlook to considerable uncertainty.

Subject: Central banks, Economic and financial statistics, External debt, External sector statistics, Government finance statistics, International reserves, Public debt

Keywords: Asia and Pacific, CR, Data collection system, Debt, Deficit, East Asia, External sector statistics, Foreign currency, GDP, Global, Government, Government finance statistics, Government liquidity, International reserves, ISCR, Lao authorities, Mekong, South Asia, State investment law

Publication Details

Pages:

67
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2013/369
Stock No:

1LAOEA2013001
ISBN:

9781484319178
ISSN:

1934-7685

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