Current Account in Mongolia
Mongolia - Current AccountThe economy ended 2018 on a strong note, as growth gained steam in Q4 thanks to a pick-up in private consumption coupled with stellar growth in the external sector due to the Oyu Tolgoi mine. This notably enabled the government to balance its budget for the first time since 2010. Meanwhile, on the political front, the recent crisis stemming from a corruption scandal involving members of parliament and the government appears to have eased somewhat. The scandal had triggered large-scale protests as well as legislative gridlock for nearly a month and a half; and, on 29 January, a majority of parliamentarians voted to oust then-speaker Miyegombyn Enkhbold. Nevertheless, instability will likely linger due to the highly divided political landscape.
Mongolia - Current Account Data
|Current Account (% of GDP)||-35.7||-15.9||-8.0||-5.7||-9.7|
5 years of economic forecasts for more than 30 economic indicators.
Mongolia Current Account Chart
Source: Bank of Mongolia and FocusEconomics calculations.
|Exchange Rate||2,634||-0.04 %||Mar 11|
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