Content type

Mongolia's Economic Outlook Improving

Country Risk / Mongolia / Thu 27 Apr, 2023

Key View

  • The Mongolian economy performed better than we expected in 2022, prompting us to revise upwards our real GDP growth forecasts for 2023 to 5.2%, from 4.5% previously.
  • Growth will be driven by the mining sector, but the broader business environment will also improve this year as financial conditions stabilise.
  • Externally, Mainland
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Mongolia's Economic Outlook Remains Lacklustre

Country Risk / Mongolia / Wed 18 Jan, 2023

Key View

  • At Fitch Solutions, we expect that Mongolian real GDP growth will pick up only gradually from our estimate of 2.0% in 2022 to 4.5% in 2023.
  • The reopening of Mainland China’s economy has brightened Mongolia’s export outlook, alongside broader signs that external risks are easing, while a resumption of key mining activities will
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Mongolia's Economic Recovery Will Stay Weak

Country Risk / Mongolia / Thu 20 Oct, 2022

Key View

  • A resumption in key mining activities and a rebound in exports will soon help to pull the Mongolian economy out of its ongoing slump.
  • However, softening global commodity prices, growing foreign currency shortages and significant policy tightening mean that the economy is not out of the woods yet.
  • At Fitch Solutions, we forecast
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Mongolian Economy Will Remain In The Doldrums

Country Risk / Mongolia / Thu 14 Jul, 2022

Key View

  • At Fitch Solutions we have lowered our 2022 GDP growth forecasts for Mongolia to 2.0%, which is below the analyst consensus of 2.9%.
  • Economic output will remain depressed over the coming quarters as a result of weak external demand from Mainland China and Russia.
  • Policymakers will be unable to provide much support. We expect
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Mongolia Could See Worsening Unrest Amid Surging Inflation

Country Risk / Mongolia / Fri 29 Apr, 2022

Key View

  • We see heightened risks of social unrest over the coming months amid surging inflation and a poor employment outlook.
  • Inflation is likely to remain elevated throughout 2022 amid higher commodity prices and supply chain disruptions, sustaining discontent.
  • We expect the fiscal deficit to widen, with the government likely to
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Mongolian Economy Set For Rebound In 2022

Country Risk / Mongolia / Thu 09 Dec, 2021

Key View

  • We at Fitch Solutions now expect real GDP growth of 2.2% in 2021, revised from 5.7% previously, following the release of Q321 results showing that the economy contracted by 1.2% y-o-y.
  • However, we have revised upward our 2022 growth forecast to 9.4% from 7.3% previously, to reflect the even lower base effects 2021 is likely to set
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Mongolia 2021 Growth Outlook Derailed By Delta Outbreak

Country Risk / Mongolia / Tue 14 Sep, 2021

Key View

  • We at Fitch Solutions now expect real GDP growth of 5.7% in 2021, from 10.1% previously, following the release of Q221 results showing the economy contracted by 0.5% y-o-y.
  • Both private and government consumption are likely to drag growth in H221, with a worsening outbreak of Covid-19 Delta Variant cases likely to weigh on incomes
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