Abstract
This 2008 Article IV Consultation highlights that Lao People’s Democratic Republic’s (PDR) economy has performed well in recent years, owing to generally stable macroeconomic conditions and a rapidly expanding natural resource sector. Real GDP growth has averaged more than 7 percent since 2004. Growth is projected to reach 7½ percent in 2008, driven by similar factors as last year, as well as higher mining output. The medium-term outlook for Lao PDR remains positive, but hinges on sound development of the resource sector and other steps to strengthen competitiveness.
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