Submitted by MONTSAME on

The Mongolian economy has shown better projection than the previous year by the World Bank (WB).
The economic growth of Mongolia for 2014 was projected to be 10.3%, whereas this number went up by 1.1% by the projection which was revealed by the WB in April of this year. However, the GDP size for the next year is projected to decline to 9.2%.
Meanwhile, the Asian Development Bank (ADB) has projected that the economic growth of Mongolia will be 9.5% which is slightly less than the WB’s projection. Moreover, the International Monetary Fund (IFM) projected the Mongolian GDP growth will be 12.9%, and it will be 7.7% for 2015 according to its report on global economic forecast released in this month.
The Bank of Mongolia (BoM), which rules the national fiscal policy, has released a slight pessimist forecast, projecting that the economic growth will be 6-7%. Assumption of international donor organization have shown positive projections, and it is considered this might be related to the Oyu Tolgoi mine’s budget.
The government of Mongolia has set goals for developing the national economy in various contents to make wealth, not being dependent on only mining sector. The global economic crisis has warned Mongolia to be a wealth maker.

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