Tuesday, August 15, 2017

Mongolia economy expands at 5.3%

Reuters:

Mongolia's economic growth accelerated sharply in the first half of 2017, the government said, helped by a revived coal market and a bailout package led by the International Monetary Fund.

The country's gross domestic product (GDP) expanded 5.3 percent from a year earlier, to 12.8 trillion tugrik ($5.26 billion), the National Statistics Office said on Tuesday.

Events are lining up for the Mongolia economy to recover after five years of recession. Copper prices are increasing, coal prices are up and China is increasing imports of Mongolian coal.

Hopefully the Mongolian government will not screw it up.

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