The World Bank has revised its growth forecast for Mongolia in 2023 to 5.8 percent from 5.2 percent, due to strong rebounds in mining sector, private consumption and fiscal expansion, local media reported Wednesday.

“In the first half of 2023, Mongolia’s

Mongolian metallurgical coal shipments to China through the Gantsmod land port declined in the week to  12 November amid winter weighing on coal deliveries, but overall year-to-date shipments remained sharply higher on the year.

Daily coal haulage via the Gantsmod port

Fitch Ratings has assigned Mongolia’s (B/Stable) proposed US dollar bonds a ‘B’ rating. The transaction is related to a voluntary tender offer for outstanding bonds maturing in 2024.

The rating is in line with Mongolia’s ‘B’ Long-Term Foreign-Currency Issuer Default Rating

Mongolia’s foreign trade turnover expanded by 16.9 percent year on year to USD 20.1 billion in the first 10 months of this year, according to data released by the country’s National Statistics Office

The country registered a surplus of USD 4.9

The underground mine of Mongolia’s Oyu Tolgoi copper-gold mining project has produced more than 127,000 tons of copper since its launch in March.

The underground mine is very important for the implementation of “Vision 2050” — the Mongolian government’s long-term development

The Bank of Mongolia has paid special attention to the big picture, such as building the essential building blocks of financial stability, making the necessary reforms in the banking sector, and regularly improving its supervisory framework. By going public, banks

Mongolia’s central bank reported today (7 November) it purchased a total of 14.2 tons of gold in the first 10 months of this year from legal entities and individuals.

As of October, the Bank of Mongolia’s average gold purchase price had

Mongolia will introduce a tax-free system from January 2024, exempting foreign citizens from value-added tax. The move is part of the country’s efforts to promote tourism. To claim tax refund, foreign citizens will need to register in the E-Mongolia mobile