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WEEKLY NEWSLETTER
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Laos
Index
Laos ran a fiscal deficit throughout the 1980s. The
deficit
expanded greatly in the second half of the decade, from
about 12
percent of GDP in 1985 to between 25 percent and 30
percent of GDP
in 1988 and 1989. This deficit was fueled by both a sharp
decrease
in nontax revenue coming mainly from surpluses of
state-owned
enterprises and a large jump in expenditures, particularly
for
wages and salaries (see
table 8, Appendix). By 1990,
however, the
deficit had decreased (relatively) to about 17 percent of
GDP and
was continuing to decrease as previously implemented
reforms,
especially on taxes and the banking system, took effect.
Data as of July 1994
The Budget Deficit
Laos ran a fiscal deficit throughout the 1980s. The
deficit
expanded greatly in the second half of the decade, from
about 12
percent of GDP in 1985 to between 25 percent and 30
percent of GDP
in 1988 and 1989. This deficit was fueled by both a sharp
decrease
in nontax revenue coming mainly from surpluses of
state-owned
enterprises and a large jump in expenditures, particularly
for
wages and salaries (see
table 8, Appendix). By 1990,
however, the
deficit had decreased (relatively) to about 17 percent of
GDP and
was continuing to decrease as previously implemented
reforms,
especially on taxes and the banking system, took effect.
Data as of July 1994
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