World Bank Cuts Growth Forecast for Mongolia as Exports Slow - Businessweek: "The World Bank lowered its forecast for Mongolia’s economic expansion this year on falling exports and foreign investments, and said the government needs to better manage spending.
Mongolia’s gross domestic product may rise 13 percent this year, compared with a previous forecast of 16.2 percent, the World Bank said in a press statement. The government’s fiscal deficit jumped to 8.4 percent of GDP last year, a 13-year record, it said."
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