Laos economy to grow 8.2 per cent, despite floods
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Vientiane - The Lao economy is expected to have grown 8.2 per cent in 2011, despite the negative impact of devastating floods this monsoon season, the National Economic Research Institute (NERI) said Wednesday.
"The floods will certainly have an adverse impact on growth but not to the extent that the World Bank forecasts," NERI Director General Liber Libuapao told the Vientiane Times.
The World Bank recently cut its gross domestic growth forecast for Laos this year from 8.6 per cent to 8 per cent in the wake of severe flooding caused by two major typhoons, Nock-Ten and Haima.
The bank also forecast GDP growth of 7.5 per cent growth next year, lower than the government's target of 8 per cent.//DPA
