Mongolia Economic Update, May 2024

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dc.creatorWorld Bank
dc.date2024-05-14T15:10:37Z
dc.date2024-05-14T15:10:37Z
dc.date2024-05-14
dc.date.accessioned2026-07-01T00:33:28Z
dc.descriptionMongolia’s economy has recovered but the current economic expansion was largely driven by strong coal exports. Public and private consumption growth also supported the economy, spurred by rising household income and the 2023 supplementary budget. Despite increased public spending, the government’s fiscal position improved in 2023, driven by higher mining revenues, resulting in a reduction in public debt. The medium-term growth outlook remains favorable, mainly supported by the mining industry. Higher coal exports also improved the external position. Looking ahead, economic growth is expected to slow to 4.8 percent in 2024 as coal exports decline from their peak in 2023 and the agriculture sector continues to be affected by harsh climate conditions. Fiscal expansion and rising household incomes are expected to elevate inflationary pressures in 2024.
dc.formatapplication/pdf
dc.formattext/plain
dc.identifierhttp://documents.worldbank.org/curated/en/099712205072440750/IDU1fde5a8a51b4eb142e01be4218294b9579332
dc.identifierhttps://hdl.handle.net/10986/41540
dc.identifier10.1596/41540
dc.identifier.urihttp://hdl.handle.net/123456789/406046
dc.languageEnglish
dc.languageen_US
dc.publisherWashington, DC: World Bank
dc.rightsCC BY-NC 3.0 IGO
dc.rightshttps://creativecommons.org/licenses/by-nc/3.0/igo
dc.rightsWorld Bank
dc.subjectDZUD
dc.subjectLIVESTOCK LOSSES
dc.subjectMINING AND TRANSPORTATION
dc.subjectINFLATION
dc.subjectCOAL EXPORT
dc.subjectSDG 8
dc.subjectAFFORDABLE AND CLEAN ENERGY
dc.subjectSDG 7
dc.subjectDECENT WORK AND ECONOMIC GROWTH
dc.titleMongolia Economic Update, May 2024
dc.typeReport

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