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Inflation in Mongolia to reach 8% in 2023 www.akipress.com
The Mongolian budget for 2023 was finally approved by the parliament on November 11.
The government spent 18 trillion tugriks (more than $5.28 billion) in 2022, while state budget expenditures for 2023 were approved at 21 trillion tugriks (more than $6.16 billion).
"The Parliament approved the Mongolian budget for 2023. If the state budget of 2022 is aimed at overcoming the pandemic, then 2023 will be the year of economic stabilization. The economic growth will reach 5%, and inflation will drop to single digits," Prime Minister Oyun-Erdene Luvsannamsrai said on his Twitter page.
The inflation is expected to reach the medium-term target of 8%.
Published Date:2022-11-14
