Mining slump, improper planning blamed for budget tensions
The enormous drop in revenue generated from mining coupled with improper budget planning has been the main cause of the budget tensions Laos has faced over the past few years, Deputy Prime Minister SomdyDouangdy told parliament recently. MrSomdy, who is also Minister of Finance, said revenue generated from mining dropped two thirds from 1,600 billion kip earned annually during the early years of the five-year national socio-economic development plan (2011-2015) to just 518 billion kip in the 2014-2015 fiscal year.
