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Mongolian economy to grow by 3.8 pct in 2018: ADB

Xinhua,April 12, 2018 Adjust font size:

ULAN BATOR, April 11 (Xinhua) -- Mongolia's economy is expected to grow 3.8 percent this year and 4.3 percent next year, the Asian Development Bank (ADB) forecast on Wednesday.

ADB's senior economist Declan Magee said that they saw Mongolian economy as positive in 2018 and 2019.

"ADB projects Mongolia's gross domestic product growth at 3.8 percent this year and 4.3 percent next year, down from 5.1 percent in 2017. But it is a good indicator. The mining investment will drive growth. However, the risk factor for the growth is coal export, especially the transportation obstacles," he said.

ADB also said Mongolia's inflation rate will be 8 percent this year and 7 percent next year.

Mongolia's central bank has set its annual inflation rate target at below 8 percent in 2018. Enditem

 

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