Mongolia: Economy

Economic growth in Mongolia decelerated sharply in 2015, but so did inflation, and the current account deficit narrowed. Growth will stagnate in 2016 under lower mining output and necessarily tight macroeconomic policies. Inflation will dip further before climbing again in 2017. Consistent fiscal policy, effective continuing efforts to diversify the economy, and ensuring social protection are important challenges of economic management in Mongolia. Read more from Asian Development Outlook 2016

Economic forecasts for East Asian countries

Country 2016 2017
China, People's Republic of 6.5 6.3
Hong Kong, China 2.1 2.2
Korea, Republic of 2.6 2.8
Mongolia 0.1 0.5
Taipei,China 1.6 1.8
Average 5.7 5.6
Country 2016 2017
China, People's Republic of 1.7 2.0
Hong Kong, China 2.5 2.7
Korea, Republic of 1.4 2.0
Mongolia 3.0 7.0
Taipei,China 0.7 1.2
Average 1.6 2.0
Country 2016 2017
China, People's Republic of 2.7 2.5
Hong Kong, China 2.0 1.8
Korea, Republic of 6.5 5.5
Mongolia -8.0 -15.0
Taipei,China 14.8 15.3
Average 3.6 3.3

Source: Asian Development Outlook 2016