Lao Govt struggles to address budget deficit
The government has projected that the country’s budget deficit for the first six months of this year could increase to as much as 1.16 trillion kip, intensifying budgetary tension against the backdrop of continuing revenue shortfalls.
If the money to pay the principal amount owed to domestic and foreign creditors is included, Laos will require a total of 5.87 trillion kip to cover its expenditure needs in this period.
Speaking during the National Assembly’s ongoing session recently, Prime Minister Thongloun Sisoulith announced the government’s plans to address the deficit by mobilising more funding from domestic and foreign sources.
Somsack Pongkhao
