The Mongolian economy grew around 7.3 percent year on year in 2019, compared to 1.2 percent in 2016, said Prime Minister U.Khurelsukh in his New Year’s message.

“2019 has been a great year for Mongolia as it has achieved progress in many sectors. Particularly, the gross domestic product grew around 7.3 percent year on year in 2019, compared to 1.2 percent in 2016. And the number of livestock animals in the country exceeded 70 million in 2019 for the first time in history,” he said.

Previously, the Asian Development Bank forecasted that Mongolia’s GDP would grow by 6.7 percent in 2019.