Economic growth in Laos has seen robust expansion compared to regional peers but the country is still at risk due to high public debt, with growth in the share of debt on less concessional terms, according to a report of the World Bank (Photo: www.worldbank.org) Hanoi (VNA) - Economic growth in Laos has seen robust expansion compared to regional peers but the country is still at risk due to high public debt, with growth in the share of debt on less concessional terms, according to a report of the World Bank (WB). Laos' economic growth was forecast at 6.7 percent this year, while public debt was estimated to be 61 percent of GDP at the end of 2017. The report said solid export performance from the power and manufacturing sectors would continue while tourism is expected to recover. Macroeconomic management is improving with stronger efforts to increase revenues, keep spending under control and clear arrears with greater flexibility in the exchange rate. Inflation remains low at … [Read more...] about Lao economy grows robustly, but with public debt risk: WB
Public debt jobs
French public sector workers strike against Macron’s reforms
Viet Nam News PARIS — From air traffic controllers and street sweepers to librarians and teachers, French public-sector employees Tuesday joined rail workers in striking to protest reforms planned by President Emmanuel Macron, calling them an "attack" against state services. It was the third day of stoppages and demonstrations by public workers since last year’s sweeping election win by Macron, who has pledged to reduce spending, trim jobs and overhaul large parts of the vast French state. All unions representing civil servants backed Tuesday’s strike, a show of unity last seen around 10 years ago, although turnout at demonstrations and disruption appeared to be modest by past French standards. The walkout affected schools and daycare centres, flights and some energy infrastructure, while public transport was also hit as some workers took part the day before the next round of two-day strikes at national rail operator SNCF. "It’s a message in defence of … [Read more...] about French public sector workers strike against Macron’s reforms
French public sector, rail workers go on strike
PARIS: French public sector staff will join rail workers in striking Tuesday (May 22) to protest reforms proposed by President Emmanuel Macron, with the country braced for possible major disruption. Deserted platforms at the normally very busy Gare de L'Est station in central Paris as public sector workers continue protests against President Emmanuel Macron's economic reform programme and planned overhaul of state rail operator SNCF. (Photo: AFP/Christophe Archambault) The stoppages are part of a series of demonstrations by public sector employees against Macron, who has pledged to reduce public spending, trim jobs and overhaul large parts of the vast French state. All unions representing civil servants have backed Tuesday's strike, a rare show of unity which was last seen around 10 years ago. Their walk-out, which will affect schools, public kindergartens, flights and some energy infrastructure, is the third stoppage since Macron's election in May 2017. "Thanks to the civil … [Read more...] about French public sector, rail workers go on strike
NA yet to okay public debt management mechanism
NA yet to okay public debt management mechanism Tu Hoang HANOI - National Assembly (NA) deputies have not agreed to divide the public debt management task as proposed by the Government in the draft law on public debt management, said Chairman Nguyen Duc Hai of the NA Financial and Budgetary Committee. Speaking at a session on the draft law on May 25, Hai said: “Many members of the committee proposed choosing a single body as a coordinator in accordance with the assignment of the Government to perform the function of State management of public debt.” Minister of Finance Dinh Tien Dung said the Government wanted to keep the existing management mechanism unchanged, meaning public debt is managed by three different agencies. Specifically, the draft law stipulates the Ministry of Finance is the agency to assist the Government in unifying the State management of public debt (Article 19). Meanwhile, the Ministry of Planning and Investment is responsible before the Government … [Read more...] about NA yet to okay public debt management mechanism
Government keeps close control of public debt – Viet Nam – News
The Prime Minister has issued a number of measures on public debt control such as strengthening management of public spending, increasing long-term, domestic and official development assistance (ODA) loans at low interest rate (averagely 1.6 percent per year), and strictly managing the Government-guaranteed loans, the official said. Regarding international economic integration, he stressed Vietnam’s proactive and active integration in 2015. The ASEAN Free Trade Area (AFTA) offers both opportunities and challenges, he said, adding the improvement of legal institution and investment climate, and economic restructure are of importance. Vietnam is one of the countries to actively implement the three pillars of the ASEAN Community, namely politics-security, economics, and social-cultural affairs, he said, warning difficulties still lie ahead such as how to preserve the national cultural identities when engaging in the ASEAN common house. Deputy PM Phuc also underlined the … [Read more...] about Government keeps close control of public debt – Viet Nam – News