Economic Growth in 2018

5.8% growth rate of Mongolian economy in the 3rd quarter of 2017 is the highest in last 2 years. International organizations and the government of Mongolia predicted a growth in the range of 2.0-3.7% for 2017 [1]. (Figure 2)

Figure 1. GDP growth rates

Source: NSO, 

According to the World Bank forecast, Mongolian economy will grow faster in 2018 than in 2017. International organizations forecaseted a growth in the range of 3.0-7.2%, while the Government of Mongolia predicted a growth of 4.2% in 2018. According to the World Bank forecast, Russia and china, our neighboring countries, will have gorwth rates 1.4% and 6.3%, respectively. Moreover, among 10 largest economies China and India will have the fastest growth rates (6.3%, 7.3%).  

Figure 2. Growth Rates Forecasts for Mongolia 

[1] Trading Economics, Economic Outlook 2017; Asian Development Outlook 2017: Update June; Global Economic Prospect 2017: Update, World Bank; Монгол Улсын 2017 оны 4-р сарын төсвийн тодотголын танилцуулга, МУ-ын 2018 оны төсвийн хүрээний мэдэгдэл

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