GDP in Mongolia
Mongolia - GDPThe Mongolian economy is stuck in a swamp of severe fiscal distress, depleted international reserves and a sharply weakened currency. The cash-strapped country is facing debt repayments of up to USD 2.0 billion in the next two years. In a context where foreign reserves barely cover half that amount and external financing is particularly expensive—a weak currency exacerbates the cost of debt repayments—the government approved a blueprint to tackle the country’s fiscal woes in late December. According to the plan, negotiations to obtain long-term loans with low interest rates will be held with neighboring countries in order to refinance Mongolia’s current loans. Simultaneously, the government will attempt to renegotiate or extend some of the current loans with the Development Bank of Mongolia and international bond holders.
Mongolia - GDP Data
|Economic Growth (GDP, annual variation in %)||17.5||12.5||11.6||8.1||2.4|
5 years of economic forecasts for more than 30 economic indicators.
Note: Annual variation of gross domestic product (GDP) in %.
Mongolia GDP Chart
Source: National Statistical Office of Mongolia.
|Exchange Rate||2,483||0.02 %||Feb 16|
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