Finance satisfied with economic growth in the first six months | VIENTIANEHOUR.com - All Lao News, Business, Economic, Entertainment...
VientianeHour

Sunday, May 20th

Last update12:47:10 AM GMT

Headlines

You are here Business Economic Finance satisfied with economic growth in the first six months

Finance satisfied with economic growth in the first six months

E-mail Print PDF

(KPL) The Ministry of Finance has said that the economic growth in the first six months was relatively good while revenue collection reached over five trillion kip or 48.8 per cent of the revenue collection plan.

The revenues collected for the national coffer in the first six months includes 3.8 trillion kip sourced locally and 1.35 trillion kip as foreign grants.

In the first half of the year, the national budget expenditure for 2009-2010 period is implemented by over 55 per cent, according to Deputy Minister of Finance, Ms. Viengthong Siphandone.

Ms. Viengthong said that revenue collection in Vientiane reached 4.3 trillion kip and 774 billion kip were collected in provinces across the country. She pointed out that the mobilization of foreign assistance was achieved by 53.3 per cent of the government's plan.

Although the revenue collection in the first six months does not meet the plan it is 11.9 per cent higher than that in the same period last year and the government has managed to keep the budget expenditure to set rate as planned.

In the first two quarters, the implementation of the domestic and foreign investment promotion plan is achieved by 46.2 per cent.

To ensure revenue collection, Ms. Viengthong suggests, it is necessary to improve budget inspection and the implementation of legal instruments and law on finance, promote the participation of the public in exploiting potential revenue sources, make more efforts in mobilizing fund and create favorable condition for domestic and foreign investment.

Comments:

Related News
Related News:
Latest News
Latest News:
Most Read News
Most Read News:
Author News
More from this author:

Follow Us