ADB: growth to remain strong in Laos
The economy of Laos is forecast to expand by 7.8 percent to 8 percent in 2012, as resource-based industries, manufacturing and services continue to generate robust growth, according to a key Asian Development Bank (ADB) report.
ADB officials officially unveiled the Asian Development Outlook for 2012 at the ADB office in Vientiane yesterday.
Weak global demand will weigh on developing economies in Asia in 2012 but growth rates in most economies are expected to remain robust and should rise again in 2013, with private consumption expected to fuel future growth, according to ADB's flagship annual economic publication.
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