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Events
IMF: 2.5-2.7 percent increase is expected by 2017 www.mongolia.gogo.mn
B.Lkhagvasuren, Vice President, Bank of Mongolia reported that Mongolian economic growth forecast is 0-1 percent in 2016 and to be 2-3 percent in 2017 as a result of positive impact shown by construction of Oyu Tolgoi underground mine on non-mining sectors.
Mongolian economy is projected to expand 2.5-2.7 by 2017, according to the World Bank and International Monetary Fund.
Democratic Party Group at State Great Khural has organized an open discussion on budget and monetary policy. During which, D.Gan-Ochir, Head of Statistics Department, Bank of Mongolia stated that external debt reached US$ 1.1 billion this year, while it will reach US$ 4.5 in 2017, adding that the major action to overcome economic difficulties is to decrease macro risks and implement policy to support national production. Also, he noted that the first action should be done is to forward major projects and attract more foreign investment.
According to the latest statistics, foreign direct investment droped to US$ 14.4 in Sep, 2016, resulting fall in macroeconomic indicators. At that time, Mongolia have been discussing to receive loan from the International Monetary Fund. However, the country is able to attract funding from International Monetary Fund maximum of US$ 400 million.
Published Date:2016-11-03
