Laos will use revenue earned from potential mining operations, restructured state enterprises and from other as yet untapped sources to pay public debts amounting to almost 14 billion USD.
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A corner of Vientiane. (Source: Phnom Penh Post) |
The Vientiane Times on August 16 cited a report presented by the Lao Government to the National Assembly (NA).
Minister of Finance Bounchom Ubonpaseuth told a recent extraordinary session of the 9th NA that foreign debt has accumulated to about 13 billion USD and domestic debt now stands at 900 million USD.
It is planned that debts will be repaid over the next five years from 2021-2025 and then from 2026-2030, with several income streams identified to generate the necessary funds.
The Lao Government will strive to boost revenue from new sources and explore untapped potential sources of revenue, especially in the mining and energy sectors./.