Efficient utilization of overall resources through sound public financial management (PFM), good governance and oversight are priorities in the Lao PDR government’s reform agenda.
... See More + The strengthening of PFM systems is fundamental to the successful development of Lao PDR and has been center stage in the Government’s policy agenda. There has been slow progress since 2010 in strengthening the quality of PFM systems and processes and there has also been a pause in the PFM reform agenda since 2013. This Public Expenditure and Financial Accountability (PEFA) Lao PDR 2018 is intended to assess the current state of PFM in Lao PDR. This PEFA uses the upgraded 2016 methodology that has more demanding PFM standards with new calibration and scoring criteria. While it is expected that the assessment generates relatively low scores and reveal severe PFM performance gaps. The Government expects that the narrative will also highlight the area of ongoing or planned reform action in order to link the analysis to the existing areas of the new PFM reform agenda and to support the post-PEFA dialogue on the priorities and sequencing of the reform actions. this context, the GoL agreed at the end of 2016 to carry out a PEFA self-assessment managed by the WB and financed by the EU, to establish a diagnostic study of the PFM system using the PEFA 2016 methodology. It is expected that the PEFA exercise gives further impetus to the momentum created by the launch of the PFM reform agenda, mobilizing the participating institutions on the subsequent dialogue on PFM reform policy decisions. The overall objective of the PEFA assessment is to provide a baseline with an evidence-based PFM performance assessment to guide the Government’s PFM reform strategy and potential engagement with its development partners in further strengthening PFM in the country.
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The sector focus for this issue concerns school based management, current conditions and recommendations for the future. Lao People's Democratic Republic 's (PDR's) education system faces challenges in meeting its goals of providing all students with access to education and improving learning outcomes.
... See More + The study presents a framework explaining how school based management can help improve education quality. The Lao economy is estimated to grow at 8.1 percent in 2013, fueled by a vibrant resource sector, continued Foreign Direct Investment (FDI)-financed investment in hydropower, and accommodative macro economic policies. Growth is projected to moderate to 7.2 percent in 2014, reflecting a small projected slowdown in some real sectors, mainly mining and construction. Inflationary pressures, mainly through food prices, are not showing signs of dissipating by end 2013. In FY12-13, the fiscal deficit widened markedly due to a combination of a large increase in public sector wages and benefits, and a decline in grants and mining revenues. The FY13-14 budget plan indicates a narrower fiscal deficit of about 4.3 percent. The risk of debt distress remains moderate, according to the recent Joint International Monetary Fund (IMF)-World Bank Debt Sustainability Analysis (DSA) 2013. While the Bank of Lao PDR maintains nominal exchange rate stability of the Lao kip against major currencies, foreign exchange policy should probably give more consideration to reserve management and competitiveness. Foreign exchange reserves and net foreign assets continued to fall in the third quarter of 2013.
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The sector focus for this issue concerns school based management, current conditions and recommendations for the future. Lao People's Democratic Republic 's (PDR's) education system faces challenges in meeting its goals of providing all students with access to education and improving learning outcomes.
... See More + The study presents a framework explaining how school based management can help improve education quality. The Lao economy is estimated to grow at 8.1 percent in 2013, fueled by a vibrant resource sector, continued Foreign Direct Investment (FDI)-financed investment in hydropower, and accommodative macro economic policies. Growth is projected to moderate to 7.2 percent in 2014, reflecting a small projected slowdown in some real sectors, mainly mining and construction. Inflationary pressures, mainly through food prices, are not showing signs of dissipating by end 2013. In FY12-13, the fiscal deficit widened markedly due to a combination of a large increase in public sector wages and benefits, and a decline in grants and mining revenues. The FY13-14 budget plan indicates a narrower fiscal deficit of about 4.3 percent. The risk of debt distress remains moderate, according to the recent Joint International Monetary Fund (IMF)-World Bank Debt Sustainability Analysis (DSA) 2013. While the Bank of Lao PDR maintains nominal exchange rate stability of the Lao kip against major currencies, foreign exchange policy should probably give more consideration to reserve management and competitiveness. Foreign exchange reserves and net foreign assets continued to fall in the third quarter of 2013.
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The Lao economy is projected to grow at 8 percent in 2013. The hydropower sector (both completed projects in operation and projects in the construction or development phase), construction, food processing, and services sectors remain the major contributors to this growth.
... See More + Overall inflation has risen considerably since the end of 2012, due to a notable increase in non-rice food prices. The fiscal deficit as a ratio to gross domestic product (GDP) is expected to widen in FY2012-2013. Therefore, containing aggregate demand through fiscal and credit growth management is essential to maintain macroeconomic balances while exchange rate management needs to be measured given the pressures on reserves and competitiveness. As the banking sector continues to expand and credit growth remains relatively high, bank supervision capacity needs to be strengthened. Lao People's Democratic Republic's (PDR's) robust economic performance and expansionary fiscal policy calls for a bolder investment in social sector spending. This paper is divided into following two parts: part one gives recent economic developments; and part two presents sector focus.
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The Lao economy is projected to grow at 8 percent in 2013. The hydropower sector (both completed projects in operation and projects in the construction or development phase), construction, food processing, and services sectors remain the major contributors to this growth.
... See More + Overall inflation has risen considerably since the end of 2012, due to a notable increase in non-rice food prices. The fiscal deficit as a ratio to gross domestic product (GDP) is expected to widen in FY2012-2013. Therefore, containing aggregate demand through fiscal and credit growth management is essential to maintain macroeconomic balances while exchange rate management needs to be measured given the pressures on reserves and competitiveness. As the banking sector continues to expand and credit growth remains relatively high, bank supervision capacity needs to be strengthened. Lao People's Democratic Republic's (PDR's) robust economic performance and expansionary fiscal policy calls for a bolder investment in social sector spending. This paper is divided into following two parts: part one gives recent economic developments; and part two presents sector focus.
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