Solid growth expected for Laos this year and 2018: ADB
Laos’ economic growth is picking up in 2017 and 2018, supported by the expansion of production and sale of electricity, buoyant services sector growth, and construction of the cross-border railway, according to a new report from the Asian Development Bank (ADB). Gross Domestic Product (GDP) growth for Laos is forecasted to reach 6.9 percent in 2017 and 7.0 percent in 2018, a slight increase from the 6.8 percent growth recorded in 2016, according to the ADB’s flagship annual economic publication, Asian Development Outlook 2017, which was released in Vientiane on April 6. Despite fiscal constraints and weaker global demand for minerals in recent years, the Lao economy remains one of strong performers in the region with an average growth above 7.0 percent for the last decade, said ADB Country Director Mr Yasushi Negishi.
