ID :
18542
Tue, 09/09/2008 - 09:52
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https://oananews.org//node/18542
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PM appreciates finance and investment sectors
PM appreciates finance and investment sectors
(KPL) Giving an address to the meeting on the 2008-09 fiscal year’s socio-economic development plan here last Friday, Prime Minister Bouasone highly valued the achievements of two ministries of Finance and Planning and Investment in the national socio-economic and budget plans.
Mr. Bouasone said that the implementation of the socio-economic plan of 2007-08 fiscal year happened as the world were suffering from the oil crisis, the rapid slide of the US dollar and global economic downturn.
“Inflation poses a serious challenge to the government,” he said, “reflected here in the increase in the price of food and ultimately in its adverse effects on the economic growth of the country.”
However, the Prime Minister assured the participants that the easing of the economy should not be seen as a bad omen because the government is in a position to stimulate demand by making adjustments to the fiscal policy and the control on credit.
Speaking on economic growth, he said some analysts forecasted this annual GDP would be as high as 7.9 per cent though the target was 8 per cent. The service sector, he added achieved the growth rate of 9.9 percent, exceeding the target of 7 per cent and the per capita income was seven million kip or US$ 810.
The kip is stable, the trade and tourist sectors are expanding, while the total export of goods has reached the level of 52 per cent of the year’s plan, said the Prime Minister.
PM also stressed on the need to look at several issues, such as debt, budget deficit, high oil prices, forestry management and tax scams.
(KPL) Giving an address to the meeting on the 2008-09 fiscal year’s socio-economic development plan here last Friday, Prime Minister Bouasone highly valued the achievements of two ministries of Finance and Planning and Investment in the national socio-economic and budget plans.
Mr. Bouasone said that the implementation of the socio-economic plan of 2007-08 fiscal year happened as the world were suffering from the oil crisis, the rapid slide of the US dollar and global economic downturn.
“Inflation poses a serious challenge to the government,” he said, “reflected here in the increase in the price of food and ultimately in its adverse effects on the economic growth of the country.”
However, the Prime Minister assured the participants that the easing of the economy should not be seen as a bad omen because the government is in a position to stimulate demand by making adjustments to the fiscal policy and the control on credit.
Speaking on economic growth, he said some analysts forecasted this annual GDP would be as high as 7.9 per cent though the target was 8 per cent. The service sector, he added achieved the growth rate of 9.9 percent, exceeding the target of 7 per cent and the per capita income was seven million kip or US$ 810.
The kip is stable, the trade and tourist sectors are expanding, while the total export of goods has reached the level of 52 per cent of the year’s plan, said the Prime Minister.
PM also stressed on the need to look at several issues, such as debt, budget deficit, high oil prices, forestry management and tax scams.
