Mongolia’s economy faces challenges in short term | Live Trading News: "The World Bank says Mongolia’s economic growth in the 1st 3 Quarters of Y 2012 fell 12% from more than 17% in Y 2011.
Although Mongolia’s medium-term economic prospects are promising, with growth expected to stay in double digits, the economy faces significant risks in the near term at a time when the global economic outlook is uncertain and China’s economic growth is slowing, experts say.
World Bank Country Manager to Mongolia Coralie Gevers said recently the world economy probably needed longer to recover, as the US was slowly coming out of recession, the eurozone was still at risk and China’s growth was also slowing, putting Mongolia at risk, particularly from falling minerals demand.
Mongolia’s economy was highly dependent on commodity exports, such as coal and copper, which made it highly exposed to external economic shocks, the experts said."
'via Blog this'
