Mongolia’s economy to grow less than expected - News.MN

Mongolia’s economy to grow less than expected

Mongolia’s economy to grow less than expected

Mongolia’s economic growth for 2021 will be 4.3 percent, below thatpreviously forecasted by the World Bank.

The fight against the novel SARS- CoV-2 coronavirus, which caused the Covid-19 pandemic, caused a rise in the region’s fiscal deficit; so many governments resorted to domestic indebtedness, and others, such as Mongolia, to external financing.

Economic activity in the region will remain below the pre-pandemic levels, reflecting the lasting damage from the Covid-19 impact.

As long as the uncertainty over the Covid-19 disease remains high, investment and productivity will continue to be depressed in countries such as Mongolia, which depend on the boost from the big Asian economies.

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