Tuesday, May 16, 2017

Mongolia economy grew 4.2% in 1st quarter 2017

Reuters:

Mongolia's economy, which grew only 1 percent in 2016, expanded 4.2 percent in the first quarter from a year earlier, buoyed by the coal sector's turnaround, government data showed on Tuesday.

(snip)

"The frontier economy of Mongolia has started to grow and is showing the green shoots of recovery after three years of plummeting growth and recession in the private economy," World Economics, a London-based research group, wrote on Tuesday.

Well we will see if this continues. Much depends on continued progress on coal exports to China. I am still waiting for the government to sign deals to allow railroads into South Mongolia to transport more coal out to China at a cheaper price.

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