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Mongolian economy badly impacted by November lockdown www.montsame.mn
4 December 2020- The Mongolian economy, having continued its slow recovery from recession through till October, was badly hit by the sudden near complete Government imposed lockdown in November, following the discovery of the first locally transmitted cases of Covid-19.
Having escaped the problems of a direct lockdown earlier in the year, although suffering a major impact in economic activity terms due to the lockdown in China, the current closure of many businesses has inevitably hit hard.
The lockdown that has been imposed in Mongolia is very strict, impacting all businesses except supermarkets, food shops, gas stations and hospitals. Police patrol 24/7 to ensure compliance, and many major roads have roadblocks and control points.
Consequently the Sales Managers Indexes for November all show sharp falls.
Economic activity is likely to remain depressed until such time as the Government considers it safe to allow businesses to re-open.
source: World Economics
Published Date:2020-12-09
