The Mongolian Economic Forum, which has been suspended for two years due to the pandemic, will be held on 7-8 April. The forum is going to organised under the theme ‘New Revival Policy’.

The annual forum aims to build consensus for defining sustainable economic development policies and addressing pressing challenges faced by key sectors of Mongolia, among policy makers, the business community, academia, and civil society.

Mongolia’s economy contracted by 5.3 per cent in 2020, the largest decline in last two decades, but a strong return on exports helped the economy to rebound in the first half of 2021.

High commodity prices, particularly of mining products, in the world market led to a positive balance of trade despite raw volume of exports decreasing. The International Monetary Fund’s Mongolia outlook indicates growth is expected to be 7.5 per cent in 2022.

Alongside this expectation of strong growth, though, is inflation. Supply-chain disruption induced by border closures caused annual inflation to reach 13.4 per cent as of December last year, and hikes in food and fuel prices have also contributed to inflation.