Laos wants to learn about apparatus building and macroeconomic management from Vietnam’s Ministry of Finance, according to Lao Deputy Prime Minister Somsavat Lengsavad.

The leader revealed the wish at a meeting with Minister of Finance Dinh Tien Dung in Hanoi on January 8 to exchange experience in curbing inflation and ensuring welfare and sustainable growth.

Topics of discussions included budget and price management, dealing with debt and measures to prevent loss in revenue.

Minister Dung said that this year Vietnam is targeting a Gross Domestic Product (GDP) growth of 5.8 percent and a 10 percent increase in export turnover. The country also wants to see a 7 percent rise in the Consumer Price Index (CPI), and overspending levels accounting for 5.3 percent of GDP.

Accordingly, Vietnam will focus on boosting production, restructuring the economy, enhancing economic competitiveness and improving people’s living standards, he added.

Lengsavad, who is also Chairman of the Laos-Vietnam Cooperation Sub-committee, said Vietnam’s experience in macroeconomic policies will be of much use for Laos as it tries to manage its finances.

He expressed his belief that, with its sustainable development, Vietnam’s economy will soon recover and grow faster in the time to come.-VNA