Mongolia's GDP expected to grow by 6.2% in 2024 - World Bank www.akipress.com
Mongolia's economy will grow by 5.8% in 2023, 6.2% in 2024 and 6.4% in 2025, the World Bank said in the latest report.
Inflation is expected to moderate slightly in most countries in East Asia and the Pacific, depending on slowing global commodity prices, improving food supplies and realistic inflation expectations.
Inflation rates are expected to remain high in Laos and Mongolia, the report noted. In particular, factors such as currency depreciation and high prices for imported goods and products will continue to affect the economy.
Tight monetary policy is also expected to continue beyond 2022, which will curb economic growth in near future.
A slowdown in Chinese production will cause damage to regional commodity exporters including Indonesia, Mongolia, Myanmar and the Solomon Islands, leading to lower commodity demand and prices.