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Fiscal Account Projections for Lao PDR (Laos)

The National Socio-Economic Development Plan 7 (NSEDP7) aims to achieve a higher growth rate and improve fiscal management. The projections from FY2010 to FY2015 highlight key trends in government expenditure, revenue, and debt.

Government Expenditure and Revenue

• Government Capital Expenditure: Average around 10.8% of GDP
• Tax and Non-Tax Revenue (excluding external grants): Average around 16.6% of GDP
• External Grants: Average around 4.8% of GDP, significantly higher than the average over FY2007-FY2010
• Gross External Loan Disbursements: Average around 3.5% of GDP

Fiscal Balance

The projections show that:

• Deficit-Gross Borrowing Requirement: Average around 2.5% of GDP over FY2011-FY2015
• Debt Repayment: Around 1.2% of GDP, with:
  • External debt repayment: Around 1.0%
  • Internal debt repayment: Around 0.1%

Net Borrowing

The deficit-net borrowing requirement will be around 1.3% of GDP on average over FY2011-FY2015.

Key Indicators

• Government Savings (tax and non-tax revenue less current expenditure): Average around 2.8% of GDP, a significant financing source for NSEDP7 expenditure
• Primary Deficit (excluding resource receipts): Around 2.8% of GDP
• Interest Due: Around 0.9% of GDP