Lao Finance Minister Bounchom Oubonpaseuth has assured National Assembly (NA) members that public debt is still manageable, despite the total amount remaining considerable, Vientiane Times reported.
Hanoi (VNA) – Lao Finance Minister BounchomOubonpaseuth has assured National Assembly (NA) members that public debt isstill manageable, despite the total amount remaining considerable, VientianeTimes reported.
The Lao lawmakers have expressed concern over rising publicdebt against a backdrop of steep depreciation of the local currency, risinginflation, and economic vulnerabilities caused by the war in Ukraine.
When it comes to the public debt, the government can assurethat management is at a high degree of safety, Bounchom told parliament lastweek.
“We will not allow our country to slide into default,”Vientiane Times quoted the minister as saying.
Public debt levels have increased considerably since 2019, rising to 88 percent of GDP in 2021, with the energy sector accounting forover 30 percent of the debt stock, according to the World Bank.
During his speech at the NA session, Finance MinisterBounchom said that the government has sufficient funds to repay debts untilAugust this year.
The government has sold bonds to help pay off domesticobligations and is negotiating with foreign creditors to extend repayment termsfor debts due beyond August.
While a budget was approved by the NA to repay domestic andforeign debts amounting to 7.15 trillion LAK (476.96 million USD) and 1.598billion USD, respectively, this year.
By May, only 1.62 trillion USD in domestic debt had beenpaid, accounting for just 24.53 percent of the target.
At the same time, only 137.9 million USD of planned foreigndebt repayments had been made, accounting for only 8.62 percent of the target.
Minister Bounchom explained these small amounts by sayingthat the majority of debts were not due until the third and fourth quarters ofthis year.
He said that the sale of government bonds had netted thegovernment over 9.57 trillion USD, or 95.78 percent of the target./.
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.
Thailand has increased the ceiling of its public debt-to-gross domestic product (GDP) ratio to 70 percent from 60 percent, allowing the government to raise more funds to help a struggling economy.
The Public Debt Management Office of Thailand reported that as of December 30, 2021, the country’s public debt stood at 9.64 trillion THB (about 293 billion USD) or 59.57 percent of the national GDP.
Deputy Prime Minister Le Minh Khai has signed a decision approving the public debt strategy until 2030, which sets a target of keeping it at under 60 percent of the GDP and Government debts not exceeding 50 percent of the GDP in 2030.
The World Bank will provide a 2.1 billion USD financing package for Indonesia, focusing oncreating jobs, stimulating economic growth, and enhancing access to clean energy across the country.
Member states also reviewed progress on six priority areas for 2025, including the development of an underground cable framework, the follow-up agreement to the ASEAN Petroleum Security Agreement (APSA), the launch of the ASEAN Energy Efficiency Database, and the rollout of an investment platform for sustainable building initiatives.
In March, Thai Prime Minister Paetongtarn Shinawatra met with Formula 1 chief Stefano Domenicali and said Thailand would commission a feasibility study into hosting a Grand Prix on a Bangkok street circuit from 2028.
The proposed giant sea wall aligns with bilateral cooperation and has been designated a national priority, considering that several regions in Indonesia are experiencing land subsidence of 10–15 centimetres per year.
International flights were cancelled including Jetstar and Virgin Australia flights to cities across Australia, and flights of Air India, Air New Zealand, Singapore's TigerAir and China's Juneyao Airlines.
The partnership aims to strengthen collaboration in the exploration and exploitation of mineral resources, including gold, copper, and manganese, as well as in the development of steel, aluminum, and renewable energy industries.
The Thai cabinet has approved a seven-year EV bus leasing scheme proposed by the Bangkok Mass Transit Authority (BMTA) for the capital, with an estimated cost of 15.35 billion THB (over 470 million USD).
Aircraft are prohibited from flying below 6,000 metres in the vicinity of the volcano, and should also remain alert to the presence of volcanic ash, which can disrupt flights.
Laos declared the transfer of the press management functions of five key media agencies and associated personnel to the Propaganda and Training Board of the Lao People's Revolutionary Party Central Committee.
Univers said in a statement that the new centre will serve as a hub for innovation, bringing together digital intelligence and climate ambition to accelerate Sarawak's transition toward a low-carbon, tech-enabled economy.
The target is to be completely free from plastic waste within two years. This can only be achieved if all parties implement the initiative with strong discipline.
Indonesia is taking new steps to improve protections for fishery workers, amid concerns over low wages, harsh working conditions, and limited access to social welfare.
The 2025 ASEAN- the Republic of Korea (RoK) Connectivity Forum that opened in Jakarta on June 17 reaffirmed a shared commitment to shaping a connected, resilient future by advancing the ASEAN Connectivity Strategic Plan.
The desk will serve as a service centre providing market intelligence, business licensing guidance, facilitating business cooperation, identifying potential investment projects, and harmonising regulatory policies between the two parties.
Malaysian Prime Minister Anwar Ibrahim noted that the Asia-Pacific region accounted for half of global energy consumption and 60% of greenhouse gas emissions in 2024. Despite this, regional countries, including eight of ten ASEAN member states, remain committed to climate goals, including net-zero emissions and tripling global renewable capacity by 2030.
The new halal cooperation arrangement will streamline halal certification and product assurance processes, making it easier for New Zealand exporters to access the Indonesian market.
Illustration. (Photo: World Bank)
