Champassak reports on GDP growth
Champassak reports on GDP growth
Champassak province expects to achieve 50 percent of the yearly targeted GDP plan over the first six months of the fiscal year 2015-16, according to the province's Planning and Investment Department.
As per the current report for the first three months, it states that the rate the province's economy is growing at 5.1 percent, which is some 62 percent of the annual plan.
At the same time, the province is set to see growth of 8.1 percent at the end of this year. The agricultural sector will contribute 68 percent, the industry sector 8 percent and the service sector 24 percent to total GDP.
Meanwhile the rate of inflation is under control at 1.14 percent, a decrease of 1.19 percent if compared to the same period in the first three months of last year.
In addition, the province also plans to see GDP growth hit 7.44 billio n over the next six months, while GDP per capita will be about 9.96 million kip (over US$1,246) and expenses will be limited to 217.85 billion kip.
The inflation rate will be controlled under the rate of economic growth, according to the release of the first six months' plan.
In the second quarter of this fisc al year, the province will carry out the implementation of investment projects worth a total of 1,941 billion kip.
These investment projects will include government funds of 66.4 billion kip, funds from Official Development Assistance (ODA) of about 381.1 billion kip and funds from domestic and foreign investment projects worth over 1,352 billion ki p.
At the same time, a total of 93 projects worth over 66.46 billion kip will be carried out under the domestic and foreign investment funds.
The province is also set to promote more domestic and foreign investment at 1,352 billion kip by enhancing collaboration and cooperation between various key essential sectors.
