Lao Peoples Democratic Republic - Systematic Country Diagnostic Update

Lao Peoples Democratic Republic - Systematic Country Diagnostic Update

This Systematic Country Diagnostic (SCD) updates the analytical work of the 2017 SCD in the light of new evidence. In 2017, the World Bank Group (WBG) published the first SCD for the Lao PDR, which comprehensively assessed the binding constraints t...

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Bibliographic Details
Main Author: World Bank
Format: Report
Language:English
Published: Washington, DC: World Bank 2022
Subjects:
FISCAL SPACE
WELL-FUNCTIONING LABOR MARKET
FINANCIAL SECTOR REFORM
GOVERNANCE AND INSTITUTIONS
MACROECONOMIC INSTABILITY
SUSTAINABLE DEVELOPMENT GOALS
DOMESTIC RESOURCE MOBILIZATION
Online Access:http://documents.worldbank.org/curated/en/525331657067519545/Lao-Peoples-Democratic-Republic-Systematic-Country-Diagnostic-Update
http://hdl.handle.net/10986/37652
id okr-10986-37652
recordtype oai_dc
spelling okr-10986-376522022-07-08T05:10:46Z Lao Peoples Democratic Republic - Systematic Country Diagnostic Update World Bank FISCAL SPACE WELL-FUNCTIONING LABOR MARKET FINANCIAL SECTOR REFORM GOVERNANCE AND INSTITUTIONS MACROECONOMIC INSTABILITY SUSTAINABLE DEVELOPMENT GOALS DOMESTIC RESOURCE MOBILIZATION This Systematic Country Diagnostic (SCD) updates the analytical work of the 2017 SCD in the light of new evidence. In 2017, the World Bank Group (WBG) published the first SCD for the Lao PDR, which comprehensively assessed the binding constraints to economic growth, inclusion, and sustainability. This SCD uses recent evidence to describe developments since 2017, revisit the previous pathways and priorities for achieving the twin goals of ending extreme poverty and boosting shared prosperity, and update knowledge and data gaps. It identifies the most pressing development challenges supported by new data and analytical work and emerging opportunities.Recent evidence suggests that poverty has been reduced but income inequality is increasing. The economy continued to grow strongly between 2017 and 2019 at an average of 6.2 percent per year, albeit at a slower pace than in the preceding three years. Economic growth declined dramatically to 0.5 percent in 2020 owing to the COVID-19 pandemic. The national poverty rate fell from 24.6 percent in 2012 to 18.3 percent in 2018. The standard of living has also improved, with notable gains in access to basic services, education, and health outcomes. However, poverty remains high compared to regional peers and is concentrated among subsistence farmers and minority ethno-linguistic groups. Inequality continues to rise as rapid growth has been jobless. The Gini index increased from 36.0 to 38.8 between 2012 and 2018, and the shared prosperity premium was negative (consumption per capita among the bottom 40 percent grew by 1.9 percent per year compared to 3.3 percent for the total population). 2022-07-07T14:38:28Z 2022-07-07T14:38:28Z 2022-06-30 Report http://documents.worldbank.org/curated/en/525331657067519545/Lao-Peoples-Democratic-Republic-Systematic-Country-Diagnostic-Update http://hdl.handle.net/10986/37652 English CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank Washington, DC: World Bank Systematic Country Diagnostic Country Focus East Asia and Pacific Lao People's Democratic Republic
repository_type Digital Repository
institution_category Foreign Institution
institution Digital Repositories
building World Bank Open Knowledge Repository
collection World Bank
language English
topic FISCAL SPACE
WELL-FUNCTIONING LABOR MARKET
FINANCIAL SECTOR REFORM
GOVERNANCE AND INSTITUTIONS
MACROECONOMIC INSTABILITY
SUSTAINABLE DEVELOPMENT GOALS
DOMESTIC RESOURCE MOBILIZATION
spellingShingle FISCAL SPACE
WELL-FUNCTIONING LABOR MARKET
FINANCIAL SECTOR REFORM
GOVERNANCE AND INSTITUTIONS
MACROECONOMIC INSTABILITY
SUSTAINABLE DEVELOPMENT GOALS
DOMESTIC RESOURCE MOBILIZATION
World Bank
Lao Peoples Democratic Republic - Systematic Country Diagnostic Update
geographic_facet East Asia and Pacific
Lao People's Democratic Republic
description This Systematic Country Diagnostic (SCD) updates the analytical work of the 2017 SCD in the light of new evidence. In 2017, the World Bank Group (WBG) published the first SCD for the Lao PDR, which comprehensively assessed the binding constraints to economic growth, inclusion, and sustainability. This SCD uses recent evidence to describe developments since 2017, revisit the previous pathways and priorities for achieving the twin goals of ending extreme poverty and boosting shared prosperity, and update knowledge and data gaps. It identifies the most pressing development challenges supported by new data and analytical work and emerging opportunities.Recent evidence suggests that poverty has been reduced but income inequality is increasing. The economy continued to grow strongly between 2017 and 2019 at an average of 6.2 percent per year, albeit at a slower pace than in the preceding three years. Economic growth declined dramatically to 0.5 percent in 2020 owing to the COVID-19 pandemic. The national poverty rate fell from 24.6 percent in 2012 to 18.3 percent in 2018. The standard of living has also improved, with notable gains in access to basic services, education, and health outcomes. However, poverty remains high compared to regional peers and is concentrated among subsistence farmers and minority ethno-linguistic groups. Inequality continues to rise as rapid growth has been jobless. The Gini index increased from 36.0 to 38.8 between 2012 and 2018, and the shared prosperity premium was negative (consumption per capita among the bottom 40 percent grew by 1.9 percent per year compared to 3.3 percent for the total population).
format Report
author World Bank
author_facet World Bank
author_sort World Bank
title Lao Peoples Democratic Republic - Systematic Country Diagnostic Update
title_short Lao Peoples Democratic Republic - Systematic Country Diagnostic Update
title_full Lao Peoples Democratic Republic - Systematic Country Diagnostic Update
title_fullStr Lao Peoples Democratic Republic - Systematic Country Diagnostic Update
title_full_unstemmed Lao Peoples Democratic Republic - Systematic Country Diagnostic Update
title_sort lao peoples democratic republic - systematic country diagnostic update
publisher Washington, DC: World Bank
publishDate 2022
url http://documents.worldbank.org/curated/en/525331657067519545/Lao-Peoples-Democratic-Republic-Systematic-Country-Diagnostic-Update
http://hdl.handle.net/10986/37652
_version_ 1764487613089054720

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