Laos posts economic growth of 7.2% this year

Laos recorded gross domestic product (GDP) growth of 7.2 percent this fiscal year, according to Lao news agency KPL on Monday.

Laos, whose GDP growth stood at an annual average of 6.2 percent between 2001 and 2005, is further tapping both internal and external sources to foster economic growth in a sustainable way in the coming years.

It has set an initial target of posting annual economic growth of 7-7.5 percent in the 2006-2010 period.

Statistics released by the ASEAN (Association of Southeast Asian Nations) Finance and Macroeconomic Surveillance Unit show that GDP per capita of Laos, which now has a population of 5.6 million, increased to 362 dollars in 2003 from 285 dollars in 1999.

Source: Xinhua