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VIENTIANE cheap nike air max shoes , March 24 (Xinhua) -- Lower global oil prices are an opportunity for developing countries like Laos to pursue timely structural reforms as the region's economic integration continues apace, according to the Asian Development Bank (ADB).


ADB senior country specialist for Laos Mr Shunsuke Bando said Tuesday the low prices leading to subdued inflation provided the chance for an oil-importing country such as Laos to reduce its current account deficit and wind back costly market-distorting fuel subsidies.


Laos' inflation rate is projected at 3.5 percent in 2015, down from 4.2 percent in 2014 and 6.4 percent in 2013.


Mr Bando made the comments at a press conference in Vientiane to mark the publication of the Asian Development Outlook 2015, officially released on Tuesday in Hong Kong.


The report, which looks at national and regional economies across Asia cheap nike air max online , sees steady growth of 6.3 percent across Asia underpinned by reform for developing countries, recovery in their more advanced peers and reductions in commodity prices.


Speaking at the press conference, ADB Country Director for Laos Sandra Nicoll welcomed Laos' continued economic expansion and recommended policymakers take advantage of the opportunities for macroeconomic reform presented while reducing the nation's fiscal deficit.


"The Lao PDR Economy remains a strong performer in the region with a GDP growth above 7 percent for the ninth consecutive year in 2014, though fiscal tightening and weaker global demand for minerals moderated the pace from 7.9 percent in 2013 to 7.4 percent," Ms Nicoll said.


She said weaker global demand for Laos' mineral exports and fiscal tightening would feed into a lower projected growth rates of 7.0 percent in 2015 and 7.2 percent in 2016.


Meanwhile the nation's expanding power generation sector was expected to be a major positive contributor along with growth in services cheap nike air max wholesale , she said.


"The outlook for 2015 for the Lao PDR economy remains solid as service sectors continue to contribute strongly."


"However, the main challenges are to reduce expenditure to drive the fiscal deficit down to a more sustainable 3 percent of GDP and to rebuild the foreign reserves which are currently low, leaving the country vulnerable to adverse shocks."


She also highlighted opportunities to encourage further growth as policymakers implement those measures agreed to by the country and its international trading partners.


"Lao acceded to the World Trade Organization in 2013, so by continuing to implement the measures required that will put the country in a good position, especially with the establishment of the ASEAN Economic Community coming soon."


Also speaking at the press conference cheap nike air max , ADB Senior Economics Officer for Laos Soulinthone Leuangkhamsing said while minerals and energy where major contributors to growth and revenue, opportunities existed to improve productivity, skills and punctuality of Lao workers to foster growth elsewhere in the economy to compete with those of neighboring countries.


He said more than 70 percent of Laos' working age population remained involved in agriculture on permanent or seasonal bases.


SEOUL, April 1 (Xinhua) -- South Korea's headline inflation managed to stay above 1 percent in March on the back of surging food prices, which may have led consumers to feel that prices are much higher than the official data showed Cheap Men's Nike Air Max 90 Ultra 2.0 Flyknit Green White , a government reported showed on Friday.


Consumer prices rose 1 percent in March from a year earlier, after gaining 1.3 percent the previous month, Statistics Korea data showed.


The official figure for consumer price inflation stayed below 1 percent for 11 months through October last year due to cheaper crude oil and lackluster domestic demand.


The headline inflation rose above 1 percent in November and December, but it fell again below the level in January at 0.8 percent.


Though the inflation managed to be higher than 1 percent in February and March, it remained far below the Bank of Korea (BOK)'s mid-term inflation target of 2 percent. The new target will be adopted for three years from 2016.


The official data could signal deflation risks at a glance Cheap Nike Air Max 97 Midnight Navy Red , but consumers would have felt that living costs are getting expensive amid surging food prices.


Fresh food index, which gauges the prices of 51 volatile items of vegetable and fruit, jumped 9.7 percent in March from a year earlier. It was the same as the February figure, which posted the highest in 37 months.


Onion prices soared 99.1 percent, with those for Chinese cabbage Women's Nike Air Max 97 Ultra 17 White Grey Cheap , scallion, garlic and white radish jumping 86.5 percent, 49.8 percent, 47.1 percent and 35.9 percent respectively.


In March, farm goods prices tend to rise as major vegetables stop being harvested. In January this year Nike Air Max 97 Ultra Women's Metallic Gold Cheap , unexpected heavy snow and cold spell led to lower inventory of key crops.


The so-called livelihood price index, which measures prices of 142 key daily necessities, inched up 0.4 percent last month on a yearly basis.


Weighing down on living costs for households further, home rents increased at a fast pace. Record-low interest rates led homeowners to increase rents to offset lower interest income.


The BOK cut its benchmark interest rate by 25 basis points in March and June last year to an all-time low of 1.5 percent.


Public services prices gained fast, with intra-city bus fare Women's Nike Air Max Plus TN Ultra White Pink Cheap , subway charge and sewage fee soaring 9.6 percent, 15.2 percent and 21.1 percent respectively.


Prices for agricultural, livestock and fishery products increased 5.4 percent, but industrial goods prices fell 0.9 percent to maintain a downward trend for three straight months.


Amid cheaper crude oil, gasoline and diesel prices tumbled 10.9 percent and 17.2 percent in March from a year ago. Passenger car prices went down Nike Air Max Plus TN Ultra Silver Grey Cheap , with prices for electricity, tap water and natural gas declining 8 percent.


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