GDP in Mongolia

Mongolia GDP | Economic News & Forecasts

Mongolia - GDP

The 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

2011  2012  2013  2014  2015  
Economic Growth (GDP, annual variation in %)17.5  12.5  11.6  8.1  2.4  

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Mongolia GDP Chart

Mongolia GDP
Note: Annual variation of gross domestic product (GDP) in %.
Source: National Statistical Office of Mongolia.

Mongolia Facts

Exchange Rate2,4830.02 %Feb 16

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