Laos is targeting a gross domestic product (GDP) growth rate of 7.5 percent in the 2009-2010 fiscal year, said its Prime Minister Buasone Bouphavanh.

At a three-day economic conference that will wrap up on Aug. 20 in the capital city of Vientiane , PM Buasone Bouphavanh said that the target is based on the country’s socio-economic development in the 2008-09 fiscal year and the forecast for its spearhead economic industries in the coming year.

The PM, however, also warned the country of difficulties it will face in 2010.

To meet the target, the Lao Government has instructed its Agro-Forestry Ministry and localities to expand rice cultivation acreage to attain an output of 3.3 million tonnes.

Laos ’s export revenues are expected to reach 1.46 billion USD in the 2009-2010 fiscal year./.