MONGOLIA POLICY NOTE Tertiary Education in Mongolia Meeting the Challenges of the Global Economy
Aug 24, 2010
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World class banking experts
Apr 22, 2010
World class banking experts will share their experiences with
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Mongolia Montly Economic Update- February, 2010
Apr 22, 2010
Mongolia Monthly Economic
Update - February, 2010
Update - February, 2010
With rising inflation eroding real incomes and purchasing power, low-income households are likely to be the most severely affected.
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February, 2010 - The latest data from February show that exports are rebounding strongly, buoyed by high copper prices andstrong demand from China, Mongolia’s largest trading partner. Imports are also rebounding, reflecting the improvement in the domestic economy. Foreign exchange reserves are close to record levels, while high real interest rates and expectations of currency appreciation have caused a large increase in MNT deposits. Meanwhile, the fiscal deficit continues to improve, reflecting a combination of stabilizing government revenues and continued expenditure restraint.However, February’s data also show a sharp upturn in inflation which rose to 8.7 percent year-on-year (yoy), roughly double the level in January and up from just 1.2 percent in December 2009. This increase has been mainly driven by a rise in food (mainly meat) prices which in turn reflects large livestock losses during the recent dzud and a distribution of 70000 tugrugs to the citizens.
