An elevated fiscal deficit will result in growing public debt, which will ramp up pressure on Laos' debt servicing capacity amid the COVID-19 crisis, the Vientiane Times reported on August 21.
Vientiane (VNA)🐟 - An elevated fiscaldeficit will result in growing public debt, which will ramp up pressure on Laos' debt servicing capacity amid the COVID-19 crisis, theVientiane Times reported on August 21.
The Lao Government has estimated that the budget deficit willrise from 6.69 trillion kip (700 million USD) , equal to 3.7 percent of the country’s grossdomestic product (GDP), to 10.3 trillion kip (1.1 billion USD), or 5.7 percent of the GDP. Chairman of the Lao National Assembly’s Planning, Finance andAudit Committee, Dr Leeber Leebouapao told the paper that the government isseeking ways to address the country’s debt following a revenue shortfall. The government may attempt to issue bonds to mobilise morefunds or borrow more money from various sources to repay debts and address theprojected budget deficit, he said. The World Bank (WB) also stated that public debt is expected torise to around 65 percent to 68 percent of GDP in 2020, leaving Laos at highrisk of debt distress. In June, Prime Minister Thongloun Sisoulith told the NationalAssembly that the government will issue bonds for the rest of this year torepay debts. Economists have recommended the government to assist theprivate sector, notably small and medium-sized enterprises to lower theirproduction costs in order to boost productivity for exports./.
ASEAN has become one of the most successful regional organisations in the world, with a host of tangible accomplishments on many fronts, Lao Foreign Minister Saleumxay Kommasith said in a message sent recently to the Lao people on the occasion of the 53rd founding anniversary of the bloc and the 23rd anniversary of Laos’ membership.
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Prime Minister Nguyen Xuan Phuc hosted a reception on August 14 for his Lao counterpart Thongloun Sisoulith, who is visiting Vietnam for the national mourning of former Party General Secretary Le Kha Phieu.
Vietnam has played an active role as the Chairman of the Association of Southeast Asian Nations (ASEAN) 2020, especially in leading the bloc in implementing the ASEAN’s initiatives and priorities in the context of the COVID-19 pandemic, Ambassador and Permanent Representative of Laos to ASEAN Ekkaphab Phanthavong told Vietnam News Agency’s correspondents in Jakarta.
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Thailand's Prime Minister Paetongtarn Shinawatra has ordered the urgent implementation of a national policy to crack down on all forms of call centre scams, online fraud, and illegal gambling, which are now considered threats to national security.
Coordinating Minister for Economic Affairs Airlangga Hartarto and EAEU Trade Minister Andrey Slepnev jointly declared the conclusion of FTA talks on the sidelines of the 28th St. Petersburg International Economic Forum (SPIEF 2025), according to the statement.
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Pichai said the trade talks with the US are important and need to move forward professionally, without regard for any political changes in Thailand, believing that Thailand has clear principles, guidelines and procedures in place.
The tax adjustment supports the Malaysian Government’s strategy to reduce reliance on foreign food supply chains and to assist domestic farmers, a finance official has said.
The proposed venue is located in the Chatuchak area of Bangkok, featuring eight public sites, including Krungthep Aphiwat Central Terminal and several nearby parks.
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In the today context of socio-economic development and growth, the professionalism of Vietnam’s revolutionary journalists continues to rise, guided by exemplary mastery of new information technologies and the modernisation of their founding principles to preserve the enduring values of revolutionary journalism.
Thai Permanent Secretary of the Ministry of Commerce Vuttikrai Leewiraphan Thailand's formal proposal will be substantial enough for the US to consider further detailed negotiations. He hoped for a tariff rate not exceeding 10% and suggested that the US might extend the negotiation period if an agreement is not reached by the July 8 deadline.
Organised by the Ministry of Culture and the Association of Thai Silk & Culture Promotions, the event honors Her Majesty the Queen on her 47th birthday anniversary and promotes Thai craftsmanship on an international stage.
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The lab focuses on four key thematic areas: energy transition and green innovation, sustainable agriculture, circular economy and sustainable cities, and nature-based solutions and biodiversity.
The key content of the document titled "Accelerating Innovative Strategies: Addressing the OOSCY Challenges" will be refined further in a seminar preceding the 47th ASEAN Summit in Kuala Lumpur this October.
In Vientiane, Laos (Photo: Reuters) 
