(KPL) The Lao?s export in seven more next months might not go as smoothly as many people expected, in particularly the export volume of the garment, agriculture and mining products might continue to shrink its existing market, due to the world market?s demand sharply recoiled, according to the World Bank, Laos.
The World Bank, Laos pointed out last week at the press conference, held at the Lao Journalists Association that least developed country, as Laos would hurt a little from result of the financial crisis because Laos does not rely on the export to bring the foreign currency for developing its country. However the World Bank believed that the export and tourism businesses might be affected by this year when the world economic situation has not yet been seen as good recoverable trend.
Meanwhile it predicted that at least 40,000 Lao workers would be unemployed as many Lao workers working for overseas that might be retrenched from industry, factory and company due to the shrinking demand in the world market.
Mr Somneuk Davading, Economist, the World Bank warned that Laos should not be careless on the financial crisis situation happening in the world because we do not know when it will end. Therefore state and private sectors should seek favorable measure and work with together in order to reduce the consequences that could be more serious for Lao people.
He confirmed at the press conference that the Lao government is now not necessary to inject any more funding-package in guarantying the investment and business situation, but all of things should be gone carefully by clearer policy on finance and investment management.
He pointed out that all of Lao people should spend their money under careful consideration, but not mean that every thing must be economy. At the same time he expected that Lao economic growth will stand at 5.5 percent this year, but increased only 5.7 percent by 2010.
