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Laos: Premier Advises on 2011 State Budget Plan
Source: kplnet.net
Source Date: Tuesday, September 14, 2010
Focus: Institution and HR Management
Country: Lao People's Democratic Republic
Created: Sep 19, 2010

(KPL) Prime Minister Bouasone Bouphavanh has called on officials at all levels to work with a high sense of responsibility and pay attention to supervision with creative idea in implementation of the 2010-2011 socio-economic development and state budget plans.

The authorities should strictly follow up the planning and financial discipline and improve their knowledge, working procedure and coordination, advised Prime Minister Bouasone during his participation in a meeting held on 14 September by the Ministry of Planning and Investment regarding the implementation of the 2010-2011 socio-economic development and state budget.

This is a key to ensure the successful implementation of 2010-2011 socio-economic development plan and state budget.

The GDP is expected to grow at least 8 per cent, including 3.5 percent in agriculture, 17.3 percent in industry and 6.7 percent in the service sector.

The state revenue should account for 20.8 percent of the GDP, of which 15.55 per cent is of domestic income. The national expenditure should account for 24.29 percent of the GDP and the trade deficit should be controlled at 3.49 per cent of the GDP.

Meanwhile, the inflation rate would be controlled under 5 per cent.

The government sets a target of rice produce at 3.38 million tonnes and reduce the amount of poor households to 19 per cent of the entire households in the country (187,000 poor households) and create 44,316 jobs for Lao labourers. The investment by different economic sectors should account for at least 32 per cent of the GDP.
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