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Post Info TOPIC: Laos to increase public investment by 50% which is 5.3 billion kips
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Laos to increase public investment by 50% which is 5.3 billion kips
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Laos plans to increase public investment by 50%

Lao government plans to invest 5.13 trillion Lao kip (600.96 million U.S. dollars) in the 2009-2010 fiscal year, an increase of about 50 percent from the 2008-2009 fiscal year, Lao newspaper the Vientiane Times reported Wednesday.

The move is to drive the country's economic growth to at least 7.5 percent in the next fiscal year, according to the newspaper.

In the 2008-2009 fiscal year, due to end in October, government investment is estimated at about 3.33 trillion Lao kip (390.36 million U.S. dollars).

The planned investment for the next fiscal year will be for implementing 3,138 public projects nationwide with 1,133 new ones, said the newspaper.

About one fifth of the money will come directly from the government budget, according to the newspaper. The rest will be taken from external sources including donors and loans from international financial institutions.

Public investment will account for 41 percent of the government's planned total expenditure of 12.47 trillion Lao kip (1.46 billion U.S. dollars) for the coming year, said the newspaper.

The Lao government plans to collects about 10.65 trillion Lao kip (1.25 billion U.S. dollars) for the country's state budget in the 2009-2010 fiscal year, according to the newspaper.

Source:Xinhua

http://english.people.com.cn/90001/90778/90858/90863/6733442.html



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Oops! It is 5.3 trillion kips indeed.

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niya


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