Mongolia's GDP expected to grow by 6 percent this year
Mongolia's economy will grow by 6.2 percent in 2024, and 6.4 percent in 2025, the World Bank said in the latest report.
Mongolia's economy will grow by 6.2 percent in 2024, and 6.4 percent 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 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. Furthermore, a slowdown in Chinese production will cause damage to regional commodity exporters including Mongolia, Indonesia, Myanmar, and the Solomon Islands, leading to lower commodity demand and prices.
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