Laos has released its budget projection for the fiscal year 2004-2005, which begins October First. The government says it will need 7,840 billion Kips, approxiamtely $719 million at the current exchange rate, to finance its socio-economic development for the next fiscal year.
The estimated budget amounts to 28% of Laos’ projected GDP. Laos also says it will need to mobilize aids from foreign donors for almost half of the estimated budget or about $330 million.
Listen to our Laos Today report for details.