Mongolia’s economy grows 6.3% y/y in 9-mo 2019
Mongolia's economy grew by 6.3% on an annual basis for the first nine months of 2019, bne Intellinews reported referring to data published by the National Statistics Office. The good result was explained with growing minerals output and exports.
In the meantime, the value of Mongolia's industrial production increased by 13.2% year-on-year to MNT 14.6 trillion between January and October 2019. However, the European Bank for Reconstruction and Development (EBRD) expects the growth of the country’s gross domestic product (GDP) to slow 6.2% this year from 6.9% in 2018.
Currently, Mongolia has been receiving financial support from a number of sources including the World Bank, the Asian Development Bank, the International Investment Bank, and the International Monetary Fund (IMF), bne Intellinews noted.
Original source: bne Intellinews