Publication:
Mongolia Economic Update, December 2014

Simple item page
dc.contributor.authorLee, Taehyun
dc.contributor.authorShiilegmaa, Altantsetseg
dc.contributor.authorBatsuuri, Davaadalai
dc.date.accessioned2015-04-28T16:03:35Z
dc.date.available2015-04-28T16:03:35Z
dc.date.issued2014-12
dc.description.abstractIn 2014, economic growth slowed as it began to adjust to unsustainable economic imbalances. Real GDP growth softened to 7 percent in the first 9 months, from 12.8 percent in the previous year. Despite strong mining production growth of 26 percent, the growth of the non-mining sector of the economy dropped to 2 percent in the third quarter from 17.4 percent a year ago. Investment sharply fell amidst declining FDI and weakening business prospects. Consumption remains relatively strong but is also gradually softening. The growth effect from stimulus measures of the last year is also wearing off in 2014 as large liquidity support from the central bank cannot be sustained in the wake of high inflation and external vulnerabilities. The current account deficit is narrowing significantly to around 11 percent of GDP from almost 30 percent in the previous three years, due to import contraction over 16 percent and stronger copper exports. However, a significant external financing gap continues amidst declining foreign investment, reducing internal reserves to less than three months import cover. Inflation remains in double digits after a strong credit boom in 2014 and continuous currency depreciation. Economic growth is likely to continue to soften in 2015 as the economy remains under pressure from the external imbalance and high inflation. To help achieve the goal of the new Solutions-oriented Government to overcome economic challenges and build a sound economic management system, the following policy actions are recommended to be considered in the economic policy framework: (1) Consolidate the off-budget spending made through the DBM into the budget; (2) prepare a credible and realistic fiscal consolidation plan to reduce the deficit; (3) monetary policy should be tightened; (4) further quasi-fiscal activities need to be avoided; and (5) the exchange rate should be left flexible.en
dc.identifierhttp://documents.worldbank.org/curated/en/2014/12/24195219/mongolia-economic-update-december-2014
dc.identifier.doi10.1596/21802
dc.identifier.urihttps://hdl.handle.net/10986/21802
dc.languageEnglish
dc.language.isoen_US
dc.publisherWorld Bank Group, Washington, DC
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo/
dc.subjectACCESS TO INFORMATION
dc.subjectACCOUNTING
dc.subjectAPR
dc.subjectASSET QUALITY
dc.subjectASSET RATIO
dc.subjectBACKED SECURITIES
dc.subjectBALANCE OF PAYMENT
dc.subjectBALANCE OF PAYMENTS
dc.subjectBALANCE SHEET
dc.subjectBANK ACCOUNTS
dc.subjectBANK ASSET
dc.subjectBANK ASSET QUALITY
dc.subjectBANK ASSETS
dc.subjectBANK CREDIT
dc.subjectBANK DEPOSIT
dc.subjectBANK FINANCING
dc.subjectBANK LIABILITIES
dc.subjectBANK LIABILITY
dc.subjectBANK LOAN
dc.subjectBANK LOANS
dc.subjectBANK MARKET
dc.subjectBANK POLICY
dc.subjectBANK RATE
dc.subjectBANKING SECTOR
dc.subjectBANKING SYSTEM
dc.subjectBASIS POINTS
dc.subjectBOND
dc.subjectBOND ISSUANCE
dc.subjectBROAD MONEY
dc.subjectBUDGET BALANCE
dc.subjectBUDGET DEFICIT
dc.subjectBUDGET DEFICITS
dc.subjectBUSINESS ­ ACCOUNTING
dc.subjectCAPITAL ADEQUACY
dc.subjectCAPITAL FORMATION
dc.subjectCAPITAL INFLOW
dc.subjectCENTRAL BANK
dc.subjectCENTRAL BANK BILL
dc.subjectCENTRAL BANK BILLS
dc.subjectCENTRAL BANK CREDIT
dc.subjectCOMMERCIAL BANK
dc.subjectCOMMERCIAL BANKS
dc.subjectCOMMERCIAL DEBT
dc.subjectCOMMERCIAL FINANCING
dc.subjectCOMMERCIAL MORTGAGE
dc.subjectCOMMERCIAL TERM
dc.subjectCOMMERCIAL TERMS
dc.subjectCOMMODITY MARKETS
dc.subjectCOMMODITY PRICE
dc.subjectCONCESSIONS
dc.subjectCONSUMPTION GOODS
dc.subjectCONSUMPTION GROWTH
dc.subjectCREDIBILITY
dc.subjectCREDIT BOOM
dc.subjectCREDIT EXPANSIONS
dc.subjectCREDIT GROWTH
dc.subjectCREDIT QUALITY
dc.subjectCREDIT RISKS
dc.subjectCREDITORS
dc.subjectCREDITS
dc.subjectCURRENCY
dc.subjectCURRENCY DEPRECIATION
dc.subjectCURRENCY MISMATCH
dc.subjectCURRENCY SWAP
dc.subjectCURRENT ACCOUNT
dc.subjectCURRENT ACCOUNT BALANCE
dc.subjectCURRENT ACCOUNT DEFICIT
dc.subjectCURRENT ACCOUNT DEFICITS
dc.subjectCURRENT DEBT
dc.subjectDEBT BURDEN
dc.subjectDEBT FINANCING
dc.subjectDEBT GUARANTEE
dc.subjectDEBT LIABILITIES
dc.subjectDEBT MANAGEMENT
dc.subjectDEBT REPAYMENT
dc.subjectDEBT REPAYMENT SCHEDULE
dc.subjectDEBT REPAYMENTS
dc.subjectDEBT SERVICE
dc.subjectDEBT-SERVICE
dc.subjectDEFICITS
dc.subjectDEPOSIT
dc.subjectDEPOSITS
dc.subjectDEVELOPING COUNTRIES
dc.subjectDEVELOPMENT BANK
dc.subjectDIVIDENDS
dc.subjectDOMESTIC CREDIT
dc.subjectDOMESTIC CURRENCY
dc.subjectECONOMIC DEVELOPMENTS
dc.subjectECONOMIC GROWTH
dc.subjectECONOMIC IMBALANCES
dc.subjectECONOMIC POLICIES
dc.subjectECONOMIC STABILITY
dc.subjectEQUIPMENT
dc.subjectESTATE
dc.subjectEXCHANGE RATE
dc.subjectEXPENDITURE
dc.subjectEXPENDITURES
dc.subjectEXPORT GROWTH
dc.subjectEXTERNAL BORROWING
dc.subjectEXTERNAL BORROWINGS
dc.subjectEXTERNAL DEBT
dc.subjectEXTERNAL FINANCING
dc.subjectEXTERNAL POSITION
dc.subjectFINANCIAL ACCOUNT
dc.subjectFINANCIAL INFORMATION
dc.subjectFINANCIAL PERFORMANCE
dc.subjectFINANCIAL RESOURCE
dc.subjectFINANCIAL VULNERABILITIES
dc.subjectFISCAL BURDEN
dc.subjectFISCAL CAPACITY
dc.subjectFISCAL DEFICIT
dc.subjectFISCAL POLICY
dc.subjectFIXED INVESTMENT
dc.subjectFLOATING EXCHANGE RATE
dc.subjectFOREIGN CAPITAL
dc.subjectFOREIGN CURRENCY
dc.subjectFOREIGN CURRENCY LOANS
dc.subjectFOREIGN DIRECT INVESTMENT
dc.subjectFOREIGN EXCHANGE
dc.subjectFOREIGN EXCHANGE RESERVES
dc.subjectFOREIGN INVESTMENT
dc.subjectFOREIGN INVESTORS
dc.subjectFOREIGN LIABILITIES
dc.subjectGOVERNMENT BOND
dc.subjectGOVERNMENT BOND YIELDS
dc.subjectGOVERNMENT BONDS
dc.subjectGOVERNMENT BUDGET
dc.subjectGOVERNMENT DEBT
dc.subjectGOVERNMENT GUARANTEE
dc.subjectHIGH INFLATION
dc.subjectHOLDINGS
dc.subjectHUMAN DEVELOPMENT
dc.subjectIMBALANCE
dc.subjectIMPORT
dc.subjectIMPORT COMPRESSION
dc.subjectIMPORTS
dc.subjectIMPORTS OF CONSUMPTION
dc.subjectINFLATION
dc.subjectINFLATION RATE
dc.subjectINFLATIONARY PRESSURE
dc.subjectINFORMATION SYSTEM
dc.subjectINSURANCE
dc.subjectINTEREST PAYMENT
dc.subjectINTEREST PAYMENTS
dc.subjectINTEREST RATE
dc.subjectINTERNATIONAL RESERVES
dc.subjectINTERNATIONAL STANDARDS
dc.subjectINVESTMENT INCOME
dc.subjectISSUANCE
dc.subjectLABOR FORCE
dc.subjectLABOR MARKET
dc.subjectLENDING EXPOSURE
dc.subjectLIABILITY
dc.subjectLIABILITY COMPOSITION
dc.subjectLIQUID ASSETS
dc.subjectLIQUIDITY
dc.subjectLIQUIDITY SUPPORT
dc.subjectLOAN
dc.subjectLOAN APPLICATIONS
dc.subjectLOAN DEMAND
dc.subjectLOAN QUALITIES
dc.subjectLOAN QUALITY
dc.subjectLOAN RATIO
dc.subjectLOCAL GOVERNMENT
dc.subjectLONG-TERM LOAN
dc.subjectMACROECONOMIC POLICY
dc.subjectMARKET DATA
dc.subjectMATURITY
dc.subjectMONETARY AUTHORITIES
dc.subjectMONETARY CONDITIONS
dc.subjectMONETARY POLICY
dc.subjectMONEY SUPPLY
dc.subjectMORAL HAZARD
dc.subjectMORTGAGE
dc.subjectMORTGAGE LOAN
dc.subjectMORTGAGE LOANS
dc.subjectMORTGAGES
dc.subjectNON-PERFORMING LOAN
dc.subjectNON-PERFORMING LOANS
dc.subjectNONPERFORMING LOANS
dc.subjectNPL
dc.subjectOUTSTANDING LOANS
dc.subjectPENSION
dc.subjectPENSION SYSTEM
dc.subjectPENSIONS
dc.subjectPRICE INFLATION
dc.subjectPRIVATE LOANS
dc.subjectPRIVATE SECTOR CREDIT
dc.subjectPROCUREMENT
dc.subjectPROCUREMENT PLAN
dc.subjectPRUDENTIAL REGULATION
dc.subjectPRUDENTIAL REGULATIONS
dc.subjectPRUDENTIAL SUPERVISION
dc.subjectPUBLIC DEBT
dc.subjectPUBLIC DISCLOSURE
dc.subjectPUBLIC EXTERNAL DEBT
dc.subjectPUBLIC INFORMATION
dc.subjectPUBLIC SPENDING
dc.subjectRECEIVABLES
dc.subjectRECURRENT EXPENDITURES
dc.subjectREGULATORY FORBEARANCE
dc.subjectRESERVE
dc.subjectRESERVE REQUIREMENT
dc.subjectRESERVES
dc.subjectRESIDENTIAL MORTGAGE
dc.subjectRETURN
dc.subjectSALARIES
dc.subjectSAMURAI BOND
dc.subjectSAVINGS BANK
dc.subjectSHARE OF INVESTMENT
dc.subjectSOCIAL INSURANCE FUNDS
dc.subjectSOVEREIGN BOND
dc.subjectSOVEREIGN DEBT
dc.subjectSTATE DEBT
dc.subjectSTRUCTURAL PROBLEMS
dc.subjectSUPERVISORY AUTHORITIES
dc.subjectSURPLUS
dc.subjectSWAP
dc.subjectTAX
dc.subjectTAX REVENUE
dc.subjectTAX REVENUES
dc.subjectTIGHT MONETARY POLICY
dc.subjectTIME DEPOSIT
dc.subjectTRADE BALANCE
dc.subjectTRANSPARENCY
dc.subjectUNEMPLOYMENT RATE
dc.subjectUNEMPLOYMENT RATES
dc.subjectWAGES
dc.titleMongolia Economic Update, December 2014en
dc.typeReporten
dc.typeRapportfr
dc.typeInformees
dspace.entity.typePublication
okr.date.disclosure2015-03-24
okr.date.doiregistration2025-05-07T11:02:55.641231Z
okr.doctypeEconomic & Sector Work
okr.doctypeEconomic & Sector Work::Economic Updates and Modeling
okr.docurlhttp://documents.worldbank.org/curated/en/2014/12/24195219/mongolia-economic-update-december-2014
okr.globalpracticeMacroeconomics and Fiscal Management
okr.guid183621468124165015
okr.guid554861468299100579
okr.identifier.externaldocumentum000477144_20150324144540
okr.identifier.internaldocumentum24195219
okr.identifier.report94997
okr.language.supporteden
okr.pdfurlhttp://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2015/03/24/000477144_20150324144540/Rendered/PDF/949970WP00PUBL0Update0December02014.pdfen
okr.region.administrativeEast Asia and Pacific
okr.region.countryMongolia
okr.topicBanks and Banking Reform
okr.topicPublic Sector Expenditure Policy
okr.topicFinance and Financial Sector Development::Bankruptcy and Resolution of Financial Distress
okr.topicFinance and Financial Sector Development::Debt Markets
okr.topicFinance and Financial Sector Development::Currencies and Exchange Rates
okr.topicPublic Sector Development
okr.topicMacroeconomics and Economic Growth::Economic Forecasting
okr.topicMacroeconomics and Economic Growth::Economic Growth
okr.unitPoverty - GP (GPVDR)
Files
Original bundle
Now showing 1 - 2 of 2
Thumbnail Image
Name:
949970WP00PUBL0Update0December02014.pdf
Size:
3.82 MB
Format:
Adobe Portable Document Format
Download
No Thumbnail Available
Name:
949970WP00PUBL0Update0December02014.txt
Size:
314.32 KB
Format:
Plain Text
Download
License bundle
Now showing 1 - 1 of 1
No Thumbnail Available
Name:
license.txt
Size:
1.71 KB
Format:
Plain Text
Description:
Download
Collections
Economic Updates and Modeling