Lao PDR Economic Monitor, May 2010 : Lao PDR Recent Economic Developments
Real gross domestic product (GDP) growth, which was estimated at 7 percent in 2009, is expected to increase to 7.8 percent in 2010 driven largely by resource sectors. Out of this growth of 7.8 percent, around 3.3 percentage points comes from power...
| Main Author: | |
|---|---|
| Format: | Report |
| Language: | English en_US |
| Published: |
Washington, DC
2017
|
| Subjects: | |
| Online Access: | http://documents.worldbank.org/curated/en/497651468278689170/Lao-PDR-economic-monitor-recent-economic-developments http://hdl.handle.net/10986/27767 |
| id |
okr-10986-27767 |
|---|---|
| recordtype |
oai_dc |
| repository_type |
Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English en_US |
| topic |
ADVANCED ECONOMIES AGRICULTURE BALANCE OF PAYMENTS BANK CREDIT BANK CREDITS BANK LENDING BANK LIQUIDITY BANK OFFICE BANK SUPERVISION BANKING SECTOR BANKING SERVICES BANKING SYSTEM BONDS BROAD MONEY BUDGET DEFICIT BUSINESS PERFORMANCE CAPITAL ACCOUNT CAPITAL GOODS COMMODITY COMMODITY PRICE COMMODITY PRICES CONSUMER GOODS CORE INFLATION CREDIT EXPANSION CREDIT GROWTH CURRENT ACCOUNT CURRENT ACCOUNT BALANCE CURRENT ACCOUNT DEFICIT DEBT DEBT SERVICE DEBT STOCK DEPOSIT DEPOSIT INTEREST DEPOSIT INTEREST RATE DEPOSIT RATE DEPOSITS DEVELOPING ECONOMIES DOMESTIC BANKS DOMESTIC CREDIT DOMESTIC DEBT DURABLE ECONOMIC CRISIS ECONOMIC DEVELOPMENTS ECONOMIC ENVIRONMENT ECONOMIC GROWTH ECONOMIC OUTLOOK EQUIPMENT EXCHANGE RATE EXCHANGE RATE POLICY EXPENDITURE EXPENDITURES EXPORT EARNINGS EXPORT GROWTH EXPORTS EXTERNAL BALANCE FINANCIAL CRISIS FINANCIAL SECTOR FOOD PRICES FOREIGN ASSETS FOREIGN CURRENCY FOREIGN DIRECT INVESTMENT GDP DEFLATOR GLOBAL DEMAND GLOBAL ECONOMY GOLD GOVERNMENT BOND GOVERNMENT REVENUE GROWTH RATE HOLDINGS IMPORT IMPORT GROWTH IMPORTS INCOME INFLATION INFRASTRUCTURE PROJECTS INTEREST PAYMENT INTEREST RATE INTEREST RATE SPREAD INTEREST RATES INTERNATIONAL RESERVE INTERNATIONAL RESERVES LIQUIDITY LOAN LOAN REPAYMENT LONG-TERM INTEREST LONG-TERM INTEREST RATE M2 MATURITY NATURAL RESOURCE NATURAL RESOURCES OIL COMMODITIES OIL PRICE OUTPUT PEG PRIVATE HOUSING PROJECT GRANTS PUBLIC CONFIDENCE PUBLIC DEBT RAPID CREDIT EXPANSION RAPID EXPANSION REAL GDP REAL LONG-TERM INTEREST RATE RESERVE RESERVES SLOWDOWN STOCK MARKETS SURPLUS SWAP TAX TOTAL CREDIT TOTAL DEPOSITS TOTAL EXPORTS TOTAL IMPORTS TOTAL REVENUE TRADE BALANCE TRADE SURPLUS TRADE VOLUME TRADING TRANSPORT UNCERTAINTY WAGES WORLD TRADE |
| spellingShingle |
ADVANCED ECONOMIES AGRICULTURE BALANCE OF PAYMENTS BANK CREDIT BANK CREDITS BANK LENDING BANK LIQUIDITY BANK OFFICE BANK SUPERVISION BANKING SECTOR BANKING SERVICES BANKING SYSTEM BONDS BROAD MONEY BUDGET DEFICIT BUSINESS PERFORMANCE CAPITAL ACCOUNT CAPITAL GOODS COMMODITY COMMODITY PRICE COMMODITY PRICES CONSUMER GOODS CORE INFLATION CREDIT EXPANSION CREDIT GROWTH CURRENT ACCOUNT CURRENT ACCOUNT BALANCE CURRENT ACCOUNT DEFICIT DEBT DEBT SERVICE DEBT STOCK DEPOSIT DEPOSIT INTEREST DEPOSIT INTEREST RATE DEPOSIT RATE DEPOSITS DEVELOPING ECONOMIES DOMESTIC BANKS DOMESTIC CREDIT DOMESTIC DEBT DURABLE ECONOMIC CRISIS ECONOMIC DEVELOPMENTS ECONOMIC ENVIRONMENT ECONOMIC GROWTH ECONOMIC OUTLOOK EQUIPMENT EXCHANGE RATE EXCHANGE RATE POLICY EXPENDITURE EXPENDITURES EXPORT EARNINGS EXPORT GROWTH EXPORTS EXTERNAL BALANCE FINANCIAL CRISIS FINANCIAL SECTOR FOOD PRICES FOREIGN ASSETS FOREIGN CURRENCY FOREIGN DIRECT INVESTMENT GDP DEFLATOR GLOBAL DEMAND GLOBAL ECONOMY GOLD GOVERNMENT BOND GOVERNMENT REVENUE GROWTH RATE HOLDINGS IMPORT IMPORT GROWTH IMPORTS INCOME INFLATION INFRASTRUCTURE PROJECTS INTEREST PAYMENT INTEREST RATE INTEREST RATE SPREAD INTEREST RATES INTERNATIONAL RESERVE INTERNATIONAL RESERVES LIQUIDITY LOAN LOAN REPAYMENT LONG-TERM INTEREST LONG-TERM INTEREST RATE M2 MATURITY NATURAL RESOURCE NATURAL RESOURCES OIL COMMODITIES OIL PRICE OUTPUT PEG PRIVATE HOUSING PROJECT GRANTS PUBLIC CONFIDENCE PUBLIC DEBT RAPID CREDIT EXPANSION RAPID EXPANSION REAL GDP REAL LONG-TERM INTEREST RATE RESERVE RESERVES SLOWDOWN STOCK MARKETS SURPLUS SWAP TAX TOTAL CREDIT TOTAL DEPOSITS TOTAL EXPORTS TOTAL IMPORTS TOTAL REVENUE TRADE BALANCE TRADE SURPLUS TRADE VOLUME TRADING TRANSPORT UNCERTAINTY WAGES WORLD TRADE World Bank Lao PDR Economic Monitor, May 2010 : Lao PDR Recent Economic Developments |
| geographic_facet |
East Asia and Pacific Lao People's Democratic Republic |
| description |
Real gross domestic product (GDP)
growth, which was estimated at 7 percent in 2009, is
expected to increase to 7.8 percent in 2010 driven largely
by resource sectors. Out of this growth of 7.8 percent,
around 3.3 percentage points comes from power sector (mainly
NT2 - nearly 3 percentage points), 0.9 percentage points
from agriculture, around 0.4 percentage points for each of
mining and construction, 0.8 percentage points from
manufacturing and about 1.7 percentage points from services
sector (tourism and retail trade, financial sector services
as a result of the recent sharp increases in bank lending,
and transport and telecommunication services). Real gross
national income (GNI) is expected to slow to nearly 6
percent this year compared to 9.5 percent in 2009 due to
significant outflows of income (profit repatriation and
interest payment) from resources sectors (mining and
hydropower). Although international reserves remained fairly
stable during the last six months, net foreign assets
dropped by 25 percent. Gross official Reserves at the Bank
of Lao PDR were estimated at about $635 million during Oct
2009-Mar 2010 of which $65 million can be attributed to an
increase in the International Monetary Fund's
(IMF's) SDR allocation in late 2009 and $63 million
have been borrowed from domestic banks through sales of
foreign currency denominated bonds by the Bank of Lao (BoL).
Net foreign assets declined by 25 percent in 2009 and 23
percent in Mar 2010 due to rapid credit expansion and import
growth. The current account deficit is projected to decline
from 10.6 percent of GDP in 2009 to 7.7 percent in 2010
supported by strong export growth, and in particular NT2
exports of electricity to Thailand. The capital account
surplus is expected to decrease slightly from 10.6 percent
of GDP in 2009 to 10.1 percent this year although FDI
started to rebound. The overall balance is likely to turn
into surplus in 2010 to about 2.4 percent of GDP. Credit
grew rapidly in 2009 and in the first quarter of 2010 but is
expected to slow by end?2010. Credits grew by about 90
percent last year and during Jan-Mar 2010 partly due to
BOL's direct lending to local projects to finance
public infrastructure and associated imports (about 22
percentage points of total credit growth). As the Government
of Lao (GOL) made a decision to stop quasi?fiscal activities
in September 2009 and bank liquidity tightened (loan to
deposit ratio increased significantly to 73 percent by
end-2009 from 55 percent in 2008), credit growth is expected
to slow in 2010. |
| format |
Report |
| author |
World Bank |
| author_facet |
World Bank |
| author_sort |
World Bank |
| title |
Lao PDR Economic Monitor, May 2010 : Lao PDR Recent Economic Developments |
| title_short |
Lao PDR Economic Monitor, May 2010 : Lao PDR Recent Economic Developments |
| title_full |
Lao PDR Economic Monitor, May 2010 : Lao PDR Recent Economic Developments |
| title_fullStr |
Lao PDR Economic Monitor, May 2010 : Lao PDR Recent Economic Developments |
| title_full_unstemmed |
Lao PDR Economic Monitor, May 2010 : Lao PDR Recent Economic Developments |
| title_sort |
lao pdr economic monitor, may 2010 : lao pdr recent economic developments |
| publisher |
Washington, DC |
| publishDate |
2017 |
| url |
http://documents.worldbank.org/curated/en/497651468278689170/Lao-PDR-economic-monitor-recent-economic-developments http://hdl.handle.net/10986/27767 |
| _version_ |
1764464527998451712 |
| spelling |
okr-10986-277672021-04-23T14:04:42Z Lao PDR Economic Monitor, May 2010 : Lao PDR Recent Economic Developments World Bank ADVANCED ECONOMIES AGRICULTURE BALANCE OF PAYMENTS BANK CREDIT BANK CREDITS BANK LENDING BANK LIQUIDITY BANK OFFICE BANK SUPERVISION BANKING SECTOR BANKING SERVICES BANKING SYSTEM BONDS BROAD MONEY BUDGET DEFICIT BUSINESS PERFORMANCE CAPITAL ACCOUNT CAPITAL GOODS COMMODITY COMMODITY PRICE COMMODITY PRICES CONSUMER GOODS CORE INFLATION CREDIT EXPANSION CREDIT GROWTH CURRENT ACCOUNT CURRENT ACCOUNT BALANCE CURRENT ACCOUNT DEFICIT DEBT DEBT SERVICE DEBT STOCK DEPOSIT DEPOSIT INTEREST DEPOSIT INTEREST RATE DEPOSIT RATE DEPOSITS DEVELOPING ECONOMIES DOMESTIC BANKS DOMESTIC CREDIT DOMESTIC DEBT DURABLE ECONOMIC CRISIS ECONOMIC DEVELOPMENTS ECONOMIC ENVIRONMENT ECONOMIC GROWTH ECONOMIC OUTLOOK EQUIPMENT EXCHANGE RATE EXCHANGE RATE POLICY EXPENDITURE EXPENDITURES EXPORT EARNINGS EXPORT GROWTH EXPORTS EXTERNAL BALANCE FINANCIAL CRISIS FINANCIAL SECTOR FOOD PRICES FOREIGN ASSETS FOREIGN CURRENCY FOREIGN DIRECT INVESTMENT GDP DEFLATOR GLOBAL DEMAND GLOBAL ECONOMY GOLD GOVERNMENT BOND GOVERNMENT REVENUE GROWTH RATE HOLDINGS IMPORT IMPORT GROWTH IMPORTS INCOME INFLATION INFRASTRUCTURE PROJECTS INTEREST PAYMENT INTEREST RATE INTEREST RATE SPREAD INTEREST RATES INTERNATIONAL RESERVE INTERNATIONAL RESERVES LIQUIDITY LOAN LOAN REPAYMENT LONG-TERM INTEREST LONG-TERM INTEREST RATE M2 MATURITY NATURAL RESOURCE NATURAL RESOURCES OIL COMMODITIES OIL PRICE OUTPUT PEG PRIVATE HOUSING PROJECT GRANTS PUBLIC CONFIDENCE PUBLIC DEBT RAPID CREDIT EXPANSION RAPID EXPANSION REAL GDP REAL LONG-TERM INTEREST RATE RESERVE RESERVES SLOWDOWN STOCK MARKETS SURPLUS SWAP TAX TOTAL CREDIT TOTAL DEPOSITS TOTAL EXPORTS TOTAL IMPORTS TOTAL REVENUE TRADE BALANCE TRADE SURPLUS TRADE VOLUME TRADING TRANSPORT UNCERTAINTY WAGES WORLD TRADE Real gross domestic product (GDP) growth, which was estimated at 7 percent in 2009, is expected to increase to 7.8 percent in 2010 driven largely by resource sectors. Out of this growth of 7.8 percent, around 3.3 percentage points comes from power sector (mainly NT2 - nearly 3 percentage points), 0.9 percentage points from agriculture, around 0.4 percentage points for each of mining and construction, 0.8 percentage points from manufacturing and about 1.7 percentage points from services sector (tourism and retail trade, financial sector services as a result of the recent sharp increases in bank lending, and transport and telecommunication services). Real gross national income (GNI) is expected to slow to nearly 6 percent this year compared to 9.5 percent in 2009 due to significant outflows of income (profit repatriation and interest payment) from resources sectors (mining and hydropower). Although international reserves remained fairly stable during the last six months, net foreign assets dropped by 25 percent. Gross official Reserves at the Bank of Lao PDR were estimated at about $635 million during Oct 2009-Mar 2010 of which $65 million can be attributed to an increase in the International Monetary Fund's (IMF's) SDR allocation in late 2009 and $63 million have been borrowed from domestic banks through sales of foreign currency denominated bonds by the Bank of Lao (BoL). Net foreign assets declined by 25 percent in 2009 and 23 percent in Mar 2010 due to rapid credit expansion and import growth. The current account deficit is projected to decline from 10.6 percent of GDP in 2009 to 7.7 percent in 2010 supported by strong export growth, and in particular NT2 exports of electricity to Thailand. The capital account surplus is expected to decrease slightly from 10.6 percent of GDP in 2009 to 10.1 percent this year although FDI started to rebound. The overall balance is likely to turn into surplus in 2010 to about 2.4 percent of GDP. Credit grew rapidly in 2009 and in the first quarter of 2010 but is expected to slow by end?2010. Credits grew by about 90 percent last year and during Jan-Mar 2010 partly due to BOL's direct lending to local projects to finance public infrastructure and associated imports (about 22 percentage points of total credit growth). As the Government of Lao (GOL) made a decision to stop quasi?fiscal activities in September 2009 and bank liquidity tightened (loan to deposit ratio increased significantly to 73 percent by end-2009 from 55 percent in 2008), credit growth is expected to slow in 2010. 2017-08-14T19:47:34Z 2017-08-14T19:47:34Z 2010-05 Report http://documents.worldbank.org/curated/en/497651468278689170/Lao-PDR-economic-monitor-recent-economic-developments http://hdl.handle.net/10986/27767 English en_US CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank Washington, DC Economic & Sector Work :: Economic Updates and Modeling Economic & Sector Work East Asia and Pacific Lao People's Democratic Republic |