Publication: Mongolia Economic Update, April 2013
Date
2013-04
ISSN
Published
2013-04
Author(s)
Shiilegmaa, Altantsetseg
Gombosuren, Khandtsooj
Smith, Gregory
Abstract
In 2012, Mongolia's economy
continued to experience a high growth rate of 12.3 percent.
This growth rate was however lower than anticipated as
Mongolia saw its coal exports drop significantly due to
China's economic slowdown. Most noticeably, Mongolia
had to finance a large fiscal deficit of 8.4 percent of
gross domestic product (GDP), a record in the last 13 years.
It is concerning that similar fiscal trends might continue
in 2013 with the economy growing at a double-digit rate but
also accumulating another large fiscal deficit. As Mongolia
embarks on its largest infrastructure investments ever which
can be in part financed through a first successful sovereign
Chinggis bonds issuance- greater attention has to be paid:
(i) to preparing those investments rigorously to ensure
maximum socioeconomic return and avoid potential wastage of
public resources; and (ii) to reflecting their financing
transparently in the national budget.
Citation
“Shiilegmaa, Altantsetseg; Gombosuren, Khandtsooj; Smith, Gregory. 2013. Mongolia Economic Update, April 2013. © World Bank Group, Mongolia. http://openknowledge.worldbank.org/handle/10986/16495 License: CC BY-NC-ND 3.0 IGO.”