Mongolian Economy Grows Higher than Expected
The economic growth of Mongolia has been higher than the expectation.
The economic growth of Mongolia has been higher than the expectation. The foreign trade surplus hit a record of USD 4.9 billion in the first ten months of this year and the state budget income exceeded the projection, having a surplus of MNT 2.1 trillion. Prime Minister of Mongolia L. Oyun-Erdene underscored these economic indicators/ figures at his 23rd "Morning Meeting" held with economists yesterday. “This growth will benefit citizens and businesses. As a proper policy is essential to maintain economic growth and deliver it to every family, I am meeting economists." As a result of the Government's measures to increase exports, intensify the port revival, and fight against corruption, the balance of payments turned into a surplus of USD 791 million. This year, the GDP per capita reached USD 5000 and we are aiming to increase it to USD 6000 next year, noted the Premier. The participants emphasized the importance of planning to diversify the economy and coordination of sectors when giving priority and supporting specific sectors as well as the development of education and health sectors to be accessible. They also underscored that economic growth should be inclusive to benefit every household, regardless of where they live meanwhile, welfare services should not be expanded.