The Lao government plans to collect 26,319 billion kip in revenue during the last six months of 2024, representing 52.47% of the annual plan and 8.95% of GDP. This was announced by Minister of Finance Santiphab Phomvihane during the 7th Ordinary Session of the National Assembly's 9th Legislature on June 10.

Minister Santiphab expressed confidence that the full-year revenue collection will meet or exceed the National Assembly’s approved plan, without reducing the target of 17% of GDP. Estimated expenditure for the next six months is about 30,395 billion kip, equating to 52% of the annual plan and 10.35% of GDP. The government will prioritize salaries, policy funds, debt payments, and essential party-state activities.

The Ministry of Finance will focus on implementing measures and targets set by the National Assembly, and will monitor and evaluate nine provinces experimenting with local business unit management to strengthen local government budgets. The Ministry will also inspect the performance of large-scale investment projects, such as hydroelectric dams, mines, railways, and highways.

Additionally, efforts will be made to manage transportation businesses, digital commerce, and online commerce from domestic and foreign entities to ensure proper registration and compliance. The Ministry will increase inspections to prevent tax evasion and illegal trade, and manage import-export activities through the banking system.