Budget

VIENTIANE (Vientiane Times/ANN) – Many state infrastructure development projects were found to be hugely overvalued with some priced at more than double the standard unit price, a minister has said.The government could save more than 3.5 trillion kip (almost US$419 million) from these following inspections ...

The cabinet has instructed the Ministry of Finance and other state agencies to collect at least 20 percent of total revenue targeted for 2019 by the end of this month.Speaking at a press conference at the close of the February cabinet meeting, government spokesperson Dr ...

State employees in many provinces of Laos have not received their January salaries in violation of a recent government mandate that the workers be paid on the 25th of every month, indicating that the directive may be a toothless effort to resolve a longstanding problem ...

The government is still expecting the customs sector to play a key role in generating income even though Laos has eliminated import tariffs on most goods from Asean member countries.According to information from the Ministry of Finance, the government is expecting the customs sector to ...

VIENTIANE (Vientiane Times/ANN) – The government will massively reduce or wipe out the budget deficit by next year, Deputy Prime Minister Somdy Duangdy has said.Laos has suffered a chronic budget deficit in recent years which has led to the accumulation of sizeable public debt and ...

Prime Minister Thongloun Sisoulith has called on senior government officials in charge of economic affairs to explore ways to ensure that all revenue streams are fully utilised, and to spur economic growth.More ...

In recent months, the Lao government and media outlets have been vocal about regulating public expenditure. The latest significant manifestation of this is the government’s recent decision to put a cap on expenses claimed by its officials in a move to regulate their expenditure.A new ministerial ...

The government has saved more than 3.5 trillion kip (almost US$419 million) by preventing the money being spent on overvalued projects, a minister has told the National Assembly.The artificially inflated costs were revealed during an inspection into state-funded projects, Minister of Public Works and Transport ...

VIENTIANE, Nov. 20 (Xinhua) — The Lao government will cut the annual quota of new civil servants from 3,000 people this year to 1,500 people next year to ease its budgetary burden, Prime Minister Thongloun Sisoulith told the parliament on Tuesday.More ...

All loopholes that could result in financial leaks must be plugged in order to ramp up national revenue, Deputy Prime Minister Somdy Duangdy told finance officials recently.More ...