Laos to Cool Down

laos marketThe World Bank projects that this year Laos’ economic growth will cool down to a moderate, yet still robust, 7.2% (down from 8% the past couple years). Blame for this is being placed primarily on halted gold production from one of Laos’ largest mines and on numerous major investment projects that are still under way and which are not expected to bring in revenue anytime this year.

The country’s lowered production of gold will have no effect on its copper production, which is projected to increase. Additionally, services, food processing, and beverage production are expected to continue to increase thanks to domestic demand and consumption.

The World Bank further stresses the importance of fiscal and monetary policy to help safeguard the country’s success of the previous years.

Click here to read more about this over at the Vientiane Times.