The Lao Government issues Decree on the Implementation of the National Socio-Economic Development Plan and State Budget Plan 2019 No. 560/PM, dated 31 December 2018. This decree aims to indicate key government direction, targets, and outcomes of the National Socio-Economic Development Plan and State Budget Plan 2019.
The Lao government has figured the Socio-Economic growth, for instance, Gross Domestic Product (GDP) will be increased over 6.7%, development of value-added will be 165,475 billion Kip, GDP per capita will be $2.726, Gross National Income (GNI) will be $2.317, agriculture sector growth will be 2,8% of GDP, industry sector will be 8,3% (cover 32,2% of GDP), service sector will be 6,6% (cover 41,7% of GDP), tariff will be 7,0% (cover 10,8% of GDP).
For macroeconomic, the inflation rate will not be over 5%, money supply (M2) will not be over 20% compared to recent year, total revenue collection in the state budget will be reached 26.305,29 billion Kip and increased 6,78% compared to 2018, total expenditure will not be over 33.394,07 billion Kip, budget deficit will not be over 7.288,78 billion Kip or 4,28% of GDP. Investment sector of government will be reached 44.347,30 billion Kip or 26,80% of GDP, government budget investment will be reached 4.359,82 billion Kip cover 9,83% of total investment value or 2,63% of GDP.
Government sets the target of production following: Rice production will be reached 4,4 million tons, coffee will be reached 160.000 tons, maize will reach 1 million tons, cassava will be reached 2,28 million tons, meat will be reached 199.210 tons, egg will be reached 43.770 tons, fish will be reached 215.000 tons, production value of processing industries will be reached 12.386 billion Kip, production of electricity will be reached 33.874 million kWh, mineral production will be reached 11.864 billion Kip.
Value of goods circulation (Wholesale-retail and services) will be reached 64.375 billion Kip, the value of exports will be reached USD $5.516 million and import will be reached USD$ 5.775 million, the trade deficit will be USD $259 million, tourist attraction will be 4,5 million, foreign currency will be USD $700 million.
Ministries, state agencies equivalent to the Ministries, mass organizations at Vientiane capital and provinces shall implement the decree in order to achieve overall objectives and outcomes.
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