Mongolia Economic Update, November 2013

In 2013, the Mongolian economy is expected to maintain double digit growth due to the start of copper production of the Oyu Tolgoi (OT) mine and expansionary economic policies. Yet, the economy is facing a significant challenge from growing balance...

Full description

Bibliographic Details
Main Authors:	Shiilegmaa, Altantsetseg, Gombosuren, Khandtsooj, Batsuuri, Davaadalai
Format:	Economic Updates and Modeling
Language:	English en_US
Published:	World Bank, Washington, DC 2014
Subjects:	ACCOUNTING ADVANCED ECONOMIES AGGREGATE DEMAND ASSET PRICES BALANCE OF PAYMENTS BALANCE SHEET BALANCE SHEETS BANK ACCOUNT BANK CREDITS BANK DEPOSIT BANK DEPOSITS BANK LOAN BANK LOANS BANKING SECTOR BANKING SYSTEM BENEFICIARIES BLACK MARKET BOND INVESTMENT BOND ISSUANCE BOND STOCK BOND YIELDS BONDS BORROWERS BORROWING COSTS BUDGET BUDGET DEFICIT BUFFERS CAPITAL ADEQUACY CAPITAL FLOWS CAPITAL FORMATION CAPITAL INFLOW CAPITAL INFLOWS CAPITAL OUTFLOWS CENTRAL BANK CENTRAL BANK BILLS CHECK COMMERCIAL BANKS COMMERCIAL LOANS COMMERCIAL TERMS COMMODITY MARKETS COMMODITY PRICES CONSOLIDATION CONSUMER PRICE INDEX CONTRACTS CORE INFLATION CREDIT EXPANSIONS CREDIT GROWTH CREDIT RATING CREDIT RISK CREDIT RISKS CREDITORS CURRENCIES CURRENCY COMPOSITION CURRENCY DEPRECIATION CURRENT ACCOUNT CURRENT ACCOUNT DEFICIT CURRENT ACCOUNT DEFICITS DEBT FINANCING DEBT ISSUANCE DEBT LEVEL DEBT MANAGEMENT DEFICIT FINANCING DEPOSIT DEPOSIT INSURANCE DEPOSITS DEVELOPING COUNTRIES DEVELOPING COUNTRY DEVELOPMENT BANK DISBURSEMENT DISBURSEMENTS DOMESTIC BOND DOMESTIC CONSUMPTION DOMESTIC CREDIT DOMESTIC DEBT DOMESTIC GOVERNMENT BONDS ECONOMIC DEVELOPMENTS ECONOMIC ENVIRONMENT ECONOMIC GROWTH ECONOMIC POLICIES ECONOMIC POLICY ECONOMIC STABILITY EMERGING ECONOMIES EMERGING MARKETS EXCESS LIQUIDITY EXCHANGE EXCHANGE RATE EXCHANGE RATE MOVEMENT EXPENDITURE EXPENDITURES EXPORT GROWTH EXPORT VOLUME EXPORTERS EXTERNAL BORROWING EXTERNAL DEBT FEDERAL RESERVE FINANCE FINANCIAL CRISIS FINANCIAL MARKET FINANCIAL MARKETS FINANCIAL RISKS FINANCIAL STABILITY FINANCIAL SUPPORT FINANCIAL VULNERABILITIES FISCAL BURDEN FISCAL DEFICIT FISCAL DEFICITS FISCAL DISCIPLINE FISCAL POLICIES FISCAL POLICY FIXED INVESTMENT FOOD PRICES FOREIGN CAPITAL FOREIGN CURRENCY FOREIGN DIRECT INVESTMENT FOREIGN EXCHANGE FOREIGN EXCHANGE MARKET FOREIGN INVESTMENT FOREIGN LOAN FOREIGN LOANS FOREIGN PORTFOLIO INVESTMENT FUTURE GLOBAL ECONOMY GLOBAL TRADE GOOD GOODS GOVERNMENT BOND GOVERNMENT EXPENDITURE GOVERNMENT EXPENDITURES GOVERNMENT REVENUE GOVERNMENT SPENDING GROSS DOMESTIC PRODUCT GUARANTEE HOUSEHOLD INCOME HUMAN DEVELOPMENT IMBALANCE IMBALANCES IMPORT IMPORT DEMAND INCOME LEVEL INFLATION INFLATION RATE INFLATIONARY PRESSURE INFLATIONARY PRESSURES INSURANCE CORPORATION INTEREST INTEREST PAYMENTS INTEREST RATE INTEREST RATES INTERNATIONAL BORROWING INTERNATIONAL RESERVE INTERNATIONAL STANDARD INVESTMENT INVESTMENT CAPITAL INVESTMENT CLIMATE INVESTMENT PROJECTS INVESTMENT REGIME INVESTMENTS INVESTORS LABOR FORCE LABOR MARKET LENDING LIABILITIES LIABILITY LIQUIDITY LIVING STANDARDS LOAN LOANS LOCAL CURRENCIES LOCAL CURRENCY LOOSE MONETARY POLICY MACRO-ECONOMIC POLICIES MACRO-ECONOMIC POLICY MARKET CONDITION MARKETS MONETARY AUTHORITIES MONETARY POLICIES MONETARY POLICY MORAL HAZARD MORTGAGE MORTGAGES NON-PERFORMING LOAN NPL OPEN MARKET PORTFOLIO PORTFOLIO FLOWS POTENTIAL INVESTORS POVERTY PRICE CHANGES PRIVATE CREDIT PRIVATE CREDIT GROWTH PRIVATE INVESTMENT PRIVATE LOAN PRIVATE SECTOR CREDIT PRIVATE SECTOR DEBT PROPERTY PRUDENTIAL REGULATIONS PUBLIC DEBT PUBLIC DEBT MANAGEMENT PUBLIC INVESTMENT PUBLIC INVESTMENTS PUBLIC SPENDING REGULATORY FORBEARANCE REPAYMENT RESERVE RESERVE MONEY RESERVES RETURN REVENUE REVENUES RISK FACTORS RISK PROFILE SAVINGS BANK SHARE SHARE OF INVESTMENT SHORT-TERM BORROWING SHORT-TERM CAPITAL SHORT-TERM DEPOSITS SHORTFALL SLOWDOWN SOVEREIGN BOND SOVEREIGN BONDS STATE BANK STOCK STOCK MARKET SUPPLY SUPPLY CAPACITY SUPPLY SIDE TAX TAXES TIME DEPOSIT TIME DEPOSITS TRADE DEFICIT TRANSACTION TRANSACTIONS TRANSPARENCY WITHDRAWAL WITHDRAWALS
Online Access:	http://documents.worldbank.org/curated/en/2013/11/18485265/mongolia-economic-update http://hdl.handle.net/10986/16643

id	okr-10986-16643
recordtype	oai_dc
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	English en_US
topic	ACCOUNTING ADVANCED ECONOMIES AGGREGATE DEMAND ASSET PRICES BALANCE OF PAYMENTS BALANCE SHEET BALANCE SHEETS BANK ACCOUNT BANK CREDITS BANK DEPOSIT BANK DEPOSITS BANK LOAN BANK LOANS BANKING SECTOR BANKING SYSTEM BENEFICIARIES BLACK MARKET BOND INVESTMENT BOND ISSUANCE BOND STOCK BOND YIELDS BONDS BORROWERS BORROWING COSTS BUDGET BUDGET DEFICIT BUFFERS CAPITAL ADEQUACY CAPITAL FLOWS CAPITAL FORMATION CAPITAL INFLOW CAPITAL INFLOWS CAPITAL OUTFLOWS CENTRAL BANK CENTRAL BANK BILLS CHECK COMMERCIAL BANKS COMMERCIAL LOANS COMMERCIAL TERMS COMMODITY MARKETS COMMODITY PRICES CONSOLIDATION CONSUMER PRICE INDEX CONTRACTS CORE INFLATION CREDIT EXPANSIONS CREDIT GROWTH CREDIT RATING CREDIT RISK CREDIT RISKS CREDITORS CURRENCIES CURRENCY COMPOSITION CURRENCY DEPRECIATION CURRENT ACCOUNT CURRENT ACCOUNT DEFICIT CURRENT ACCOUNT DEFICITS DEBT FINANCING DEBT ISSUANCE DEBT LEVEL DEBT MANAGEMENT DEFICIT FINANCING DEPOSIT DEPOSIT INSURANCE DEPOSITS DEVELOPING COUNTRIES DEVELOPING COUNTRY DEVELOPMENT BANK DISBURSEMENT DISBURSEMENTS DOMESTIC BOND DOMESTIC CONSUMPTION DOMESTIC CREDIT DOMESTIC DEBT DOMESTIC GOVERNMENT BONDS ECONOMIC DEVELOPMENTS ECONOMIC ENVIRONMENT ECONOMIC GROWTH ECONOMIC POLICIES ECONOMIC POLICY ECONOMIC STABILITY EMERGING ECONOMIES EMERGING MARKETS EXCESS LIQUIDITY EXCHANGE EXCHANGE RATE EXCHANGE RATE MOVEMENT EXPENDITURE EXPENDITURES EXPORT GROWTH EXPORT VOLUME EXPORTERS EXTERNAL BORROWING EXTERNAL DEBT FEDERAL RESERVE FINANCE FINANCIAL CRISIS FINANCIAL MARKET FINANCIAL MARKETS FINANCIAL RISKS FINANCIAL STABILITY FINANCIAL SUPPORT FINANCIAL VULNERABILITIES FISCAL BURDEN FISCAL DEFICIT FISCAL DEFICITS FISCAL DISCIPLINE FISCAL POLICIES FISCAL POLICY FIXED INVESTMENT FOOD PRICES FOREIGN CAPITAL FOREIGN CURRENCY FOREIGN DIRECT INVESTMENT FOREIGN EXCHANGE FOREIGN EXCHANGE MARKET FOREIGN INVESTMENT FOREIGN LOAN FOREIGN LOANS FOREIGN PORTFOLIO INVESTMENT FUTURE GLOBAL ECONOMY GLOBAL TRADE GOOD GOODS GOVERNMENT BOND GOVERNMENT EXPENDITURE GOVERNMENT EXPENDITURES GOVERNMENT REVENUE GOVERNMENT SPENDING GROSS DOMESTIC PRODUCT GUARANTEE HOUSEHOLD INCOME HUMAN DEVELOPMENT IMBALANCE IMBALANCES IMPORT IMPORT DEMAND INCOME LEVEL INFLATION INFLATION RATE INFLATIONARY PRESSURE INFLATIONARY PRESSURES INSURANCE CORPORATION INTEREST INTEREST PAYMENTS INTEREST RATE INTEREST RATES INTERNATIONAL BORROWING INTERNATIONAL RESERVE INTERNATIONAL STANDARD INVESTMENT INVESTMENT CAPITAL INVESTMENT CLIMATE INVESTMENT PROJECTS INVESTMENT REGIME INVESTMENTS INVESTORS LABOR FORCE LABOR MARKET LENDING LIABILITIES LIABILITY LIQUIDITY LIVING STANDARDS LOAN LOANS LOCAL CURRENCIES LOCAL CURRENCY LOOSE MONETARY POLICY MACRO-ECONOMIC POLICIES MACRO-ECONOMIC POLICY MARKET CONDITION MARKETS MONETARY AUTHORITIES MONETARY POLICIES MONETARY POLICY MORAL HAZARD MORTGAGE MORTGAGES NON-PERFORMING LOAN NPL OPEN MARKET PORTFOLIO PORTFOLIO FLOWS POTENTIAL INVESTORS POVERTY PRICE CHANGES PRIVATE CREDIT PRIVATE CREDIT GROWTH PRIVATE INVESTMENT PRIVATE LOAN PRIVATE SECTOR CREDIT PRIVATE SECTOR DEBT PROPERTY PRUDENTIAL REGULATIONS PUBLIC DEBT PUBLIC DEBT MANAGEMENT PUBLIC INVESTMENT PUBLIC INVESTMENTS PUBLIC SPENDING REGULATORY FORBEARANCE REPAYMENT RESERVE RESERVE MONEY RESERVES RETURN REVENUE REVENUES RISK FACTORS RISK PROFILE SAVINGS BANK SHARE SHARE OF INVESTMENT SHORT-TERM BORROWING SHORT-TERM CAPITAL SHORT-TERM DEPOSITS SHORTFALL SLOWDOWN SOVEREIGN BOND SOVEREIGN BONDS STATE BANK STOCK STOCK MARKET SUPPLY SUPPLY CAPACITY SUPPLY SIDE TAX TAXES TIME DEPOSIT TIME DEPOSITS TRADE DEFICIT TRANSACTION TRANSACTIONS TRANSPARENCY WITHDRAWAL WITHDRAWALS
spellingShingle	ACCOUNTING ADVANCED ECONOMIES AGGREGATE DEMAND ASSET PRICES BALANCE OF PAYMENTS BALANCE SHEET BALANCE SHEETS BANK ACCOUNT BANK CREDITS BANK DEPOSIT BANK DEPOSITS BANK LOAN BANK LOANS BANKING SECTOR BANKING SYSTEM BENEFICIARIES BLACK MARKET BOND INVESTMENT BOND ISSUANCE BOND STOCK BOND YIELDS BONDS BORROWERS BORROWING COSTS BUDGET BUDGET DEFICIT BUFFERS CAPITAL ADEQUACY CAPITAL FLOWS CAPITAL FORMATION CAPITAL INFLOW CAPITAL INFLOWS CAPITAL OUTFLOWS CENTRAL BANK CENTRAL BANK BILLS CHECK COMMERCIAL BANKS COMMERCIAL LOANS COMMERCIAL TERMS COMMODITY MARKETS COMMODITY PRICES CONSOLIDATION CONSUMER PRICE INDEX CONTRACTS CORE INFLATION CREDIT EXPANSIONS CREDIT GROWTH CREDIT RATING CREDIT RISK CREDIT RISKS CREDITORS CURRENCIES CURRENCY COMPOSITION CURRENCY DEPRECIATION CURRENT ACCOUNT CURRENT ACCOUNT DEFICIT CURRENT ACCOUNT DEFICITS DEBT FINANCING DEBT ISSUANCE DEBT LEVEL DEBT MANAGEMENT DEFICIT FINANCING DEPOSIT DEPOSIT INSURANCE DEPOSITS DEVELOPING COUNTRIES DEVELOPING COUNTRY DEVELOPMENT BANK DISBURSEMENT DISBURSEMENTS DOMESTIC BOND DOMESTIC CONSUMPTION DOMESTIC CREDIT DOMESTIC DEBT DOMESTIC GOVERNMENT BONDS ECONOMIC DEVELOPMENTS ECONOMIC ENVIRONMENT ECONOMIC GROWTH ECONOMIC POLICIES ECONOMIC POLICY ECONOMIC STABILITY EMERGING ECONOMIES EMERGING MARKETS EXCESS LIQUIDITY EXCHANGE EXCHANGE RATE EXCHANGE RATE MOVEMENT EXPENDITURE EXPENDITURES EXPORT GROWTH EXPORT VOLUME EXPORTERS EXTERNAL BORROWING EXTERNAL DEBT FEDERAL RESERVE FINANCE FINANCIAL CRISIS FINANCIAL MARKET FINANCIAL MARKETS FINANCIAL RISKS FINANCIAL STABILITY FINANCIAL SUPPORT FINANCIAL VULNERABILITIES FISCAL BURDEN FISCAL DEFICIT FISCAL DEFICITS FISCAL DISCIPLINE FISCAL POLICIES FISCAL POLICY FIXED INVESTMENT FOOD PRICES FOREIGN CAPITAL FOREIGN CURRENCY FOREIGN DIRECT INVESTMENT FOREIGN EXCHANGE FOREIGN EXCHANGE MARKET FOREIGN INVESTMENT FOREIGN LOAN FOREIGN LOANS FOREIGN PORTFOLIO INVESTMENT FUTURE GLOBAL ECONOMY GLOBAL TRADE GOOD GOODS GOVERNMENT BOND GOVERNMENT EXPENDITURE GOVERNMENT EXPENDITURES GOVERNMENT REVENUE GOVERNMENT SPENDING GROSS DOMESTIC PRODUCT GUARANTEE HOUSEHOLD INCOME HUMAN DEVELOPMENT IMBALANCE IMBALANCES IMPORT IMPORT DEMAND INCOME LEVEL INFLATION INFLATION RATE INFLATIONARY PRESSURE INFLATIONARY PRESSURES INSURANCE CORPORATION INTEREST INTEREST PAYMENTS INTEREST RATE INTEREST RATES INTERNATIONAL BORROWING INTERNATIONAL RESERVE INTERNATIONAL STANDARD INVESTMENT INVESTMENT CAPITAL INVESTMENT CLIMATE INVESTMENT PROJECTS INVESTMENT REGIME INVESTMENTS INVESTORS LABOR FORCE LABOR MARKET LENDING LIABILITIES LIABILITY LIQUIDITY LIVING STANDARDS LOAN LOANS LOCAL CURRENCIES LOCAL CURRENCY LOOSE MONETARY POLICY MACRO-ECONOMIC POLICIES MACRO-ECONOMIC POLICY MARKET CONDITION MARKETS MONETARY AUTHORITIES MONETARY POLICIES MONETARY POLICY MORAL HAZARD MORTGAGE MORTGAGES NON-PERFORMING LOAN NPL OPEN MARKET PORTFOLIO PORTFOLIO FLOWS POTENTIAL INVESTORS POVERTY PRICE CHANGES PRIVATE CREDIT PRIVATE CREDIT GROWTH PRIVATE INVESTMENT PRIVATE LOAN PRIVATE SECTOR CREDIT PRIVATE SECTOR DEBT PROPERTY PRUDENTIAL REGULATIONS PUBLIC DEBT PUBLIC DEBT MANAGEMENT PUBLIC INVESTMENT PUBLIC INVESTMENTS PUBLIC SPENDING REGULATORY FORBEARANCE REPAYMENT RESERVE RESERVE MONEY RESERVES RETURN REVENUE REVENUES RISK FACTORS RISK PROFILE SAVINGS BANK SHARE SHARE OF INVESTMENT SHORT-TERM BORROWING SHORT-TERM CAPITAL SHORT-TERM DEPOSITS SHORTFALL SLOWDOWN SOVEREIGN BOND SOVEREIGN BONDS STATE BANK STOCK STOCK MARKET SUPPLY SUPPLY CAPACITY SUPPLY SIDE TAX TAXES TIME DEPOSIT TIME DEPOSITS TRADE DEFICIT TRANSACTION TRANSACTIONS TRANSPARENCY WITHDRAWAL WITHDRAWALS Shiilegmaa, Altantsetseg Gombosuren, Khandtsooj Batsuuri, Davaadalai Mongolia Economic Update, November 2013
geographic_facet	East Asia and Pacific Mongolia
description	In 2013, the Mongolian economy is expected to maintain double digit growth due to the start of copper production of the Oyu Tolgoi (OT) mine and expansionary economic policies. Yet, the economy is facing a significant challenge from growing balance of payments pressures as the foreign direct investment (FDI) inflow declines and the mineral exports remain weak. A substantial balance of payments imbalance stems from a weakening minerals market but also largely reflects the consequences of pro-cyclical economic management over the last two years. Mongolia may also face a downside risk from an uncertain global economic environment and further dampening of minerals market. Macro-economic and financial vulnerabilities are growing due to continuous expansionary fiscal and monetary policies reflected in significant off-budget spending and rapid credit growth. The government took a series of positive measures in recent months to address the challenges including the adoption of the new investment law, announcement of a fiscal consolidation plan, and subsequent amendment of the 2013 budget to tighten budget spending. Yet, further efforts are needed to shift the growth-oriented economic policies toward economic stability and rebuilding macro-economic policy buffers, in light of uncertain prospects in the external environment and the balance of payments situation.
format	Economic & Sector Work :: Economic Updates and Modeling
author	Shiilegmaa, Altantsetseg Gombosuren, Khandtsooj Batsuuri, Davaadalai
author_facet	Shiilegmaa, Altantsetseg Gombosuren, Khandtsooj Batsuuri, Davaadalai
author_sort	Shiilegmaa, Altantsetseg
title	Mongolia Economic Update, November 2013
title_short	Mongolia Economic Update, November 2013
title_full	Mongolia Economic Update, November 2013
title_fullStr	Mongolia Economic Update, November 2013
title_full_unstemmed	Mongolia Economic Update, November 2013
title_sort	mongolia economic update, november 2013
publisher	World Bank, Washington, DC
publishDate	2014
url	http://documents.worldbank.org/curated/en/2013/11/18485265/mongolia-economic-update http://hdl.handle.net/10986/16643
_version_	1764433905651286016
spelling	okr-10986-166432021-04-23T14:03:30Z Mongolia Economic Update, November 2013 Shiilegmaa, Altantsetseg Gombosuren, Khandtsooj Batsuuri, Davaadalai ACCOUNTING ADVANCED ECONOMIES AGGREGATE DEMAND ASSET PRICES BALANCE OF PAYMENTS BALANCE SHEET BALANCE SHEETS BANK ACCOUNT BANK CREDITS BANK DEPOSIT BANK DEPOSITS BANK LOAN BANK LOANS BANKING SECTOR BANKING SYSTEM BENEFICIARIES BLACK MARKET BOND INVESTMENT BOND ISSUANCE BOND STOCK BOND YIELDS BONDS BORROWERS BORROWING COSTS BUDGET BUDGET DEFICIT BUFFERS CAPITAL ADEQUACY CAPITAL FLOWS CAPITAL FORMATION CAPITAL INFLOW CAPITAL INFLOWS CAPITAL OUTFLOWS CENTRAL BANK CENTRAL BANK BILLS CHECK COMMERCIAL BANKS COMMERCIAL LOANS COMMERCIAL TERMS COMMODITY MARKETS COMMODITY PRICES CONSOLIDATION CONSUMER PRICE INDEX CONTRACTS CORE INFLATION CREDIT EXPANSIONS CREDIT GROWTH CREDIT RATING CREDIT RISK CREDIT RISKS CREDITORS CURRENCIES CURRENCY COMPOSITION CURRENCY DEPRECIATION CURRENT ACCOUNT CURRENT ACCOUNT DEFICIT CURRENT ACCOUNT DEFICITS DEBT FINANCING DEBT ISSUANCE DEBT LEVEL DEBT MANAGEMENT DEFICIT FINANCING DEPOSIT DEPOSIT INSURANCE DEPOSITS DEVELOPING COUNTRIES DEVELOPING COUNTRY DEVELOPMENT BANK DISBURSEMENT DISBURSEMENTS DOMESTIC BOND DOMESTIC CONSUMPTION DOMESTIC CREDIT DOMESTIC DEBT DOMESTIC GOVERNMENT BONDS ECONOMIC DEVELOPMENTS ECONOMIC ENVIRONMENT ECONOMIC GROWTH ECONOMIC POLICIES ECONOMIC POLICY ECONOMIC STABILITY EMERGING ECONOMIES EMERGING MARKETS EXCESS LIQUIDITY EXCHANGE EXCHANGE RATE EXCHANGE RATE MOVEMENT EXPENDITURE EXPENDITURES EXPORT GROWTH EXPORT VOLUME EXPORTERS EXTERNAL BORROWING EXTERNAL DEBT FEDERAL RESERVE FINANCE FINANCIAL CRISIS FINANCIAL MARKET FINANCIAL MARKETS FINANCIAL RISKS FINANCIAL STABILITY FINANCIAL SUPPORT FINANCIAL VULNERABILITIES FISCAL BURDEN FISCAL DEFICIT FISCAL DEFICITS FISCAL DISCIPLINE FISCAL POLICIES FISCAL POLICY FIXED INVESTMENT FOOD PRICES FOREIGN CAPITAL FOREIGN CURRENCY FOREIGN DIRECT INVESTMENT FOREIGN EXCHANGE FOREIGN EXCHANGE MARKET FOREIGN INVESTMENT FOREIGN LOAN FOREIGN LOANS FOREIGN PORTFOLIO INVESTMENT FUTURE GLOBAL ECONOMY GLOBAL TRADE GOOD GOODS GOVERNMENT BOND GOVERNMENT EXPENDITURE GOVERNMENT EXPENDITURES GOVERNMENT REVENUE GOVERNMENT SPENDING GROSS DOMESTIC PRODUCT GUARANTEE HOUSEHOLD INCOME HUMAN DEVELOPMENT IMBALANCE IMBALANCES IMPORT IMPORT DEMAND INCOME LEVEL INFLATION INFLATION RATE INFLATIONARY PRESSURE INFLATIONARY PRESSURES INSURANCE CORPORATION INTEREST INTEREST PAYMENTS INTEREST RATE INTEREST RATES INTERNATIONAL BORROWING INTERNATIONAL RESERVE INTERNATIONAL STANDARD INVESTMENT INVESTMENT CAPITAL INVESTMENT CLIMATE INVESTMENT PROJECTS INVESTMENT REGIME INVESTMENTS INVESTORS LABOR FORCE LABOR MARKET LENDING LIABILITIES LIABILITY LIQUIDITY LIVING STANDARDS LOAN LOANS LOCAL CURRENCIES LOCAL CURRENCY LOOSE MONETARY POLICY MACRO-ECONOMIC POLICIES MACRO-ECONOMIC POLICY MARKET CONDITION MARKETS MONETARY AUTHORITIES MONETARY POLICIES MONETARY POLICY MORAL HAZARD MORTGAGE MORTGAGES NON-PERFORMING LOAN NPL OPEN MARKET PORTFOLIO PORTFOLIO FLOWS POTENTIAL INVESTORS POVERTY PRICE CHANGES PRIVATE CREDIT PRIVATE CREDIT GROWTH PRIVATE INVESTMENT PRIVATE LOAN PRIVATE SECTOR CREDIT PRIVATE SECTOR DEBT PROPERTY PRUDENTIAL REGULATIONS PUBLIC DEBT PUBLIC DEBT MANAGEMENT PUBLIC INVESTMENT PUBLIC INVESTMENTS PUBLIC SPENDING REGULATORY FORBEARANCE REPAYMENT RESERVE RESERVE MONEY RESERVES RETURN REVENUE REVENUES RISK FACTORS RISK PROFILE SAVINGS BANK SHARE SHARE OF INVESTMENT SHORT-TERM BORROWING SHORT-TERM CAPITAL SHORT-TERM DEPOSITS SHORTFALL SLOWDOWN SOVEREIGN BOND SOVEREIGN BONDS STATE BANK STOCK STOCK MARKET SUPPLY SUPPLY CAPACITY SUPPLY SIDE TAX TAXES TIME DEPOSIT TIME DEPOSITS TRADE DEFICIT TRANSACTION TRANSACTIONS TRANSPARENCY WITHDRAWAL WITHDRAWALS In 2013, the Mongolian economy is expected to maintain double digit growth due to the start of copper production of the Oyu Tolgoi (OT) mine and expansionary economic policies. Yet, the economy is facing a significant challenge from growing balance of payments pressures as the foreign direct investment (FDI) inflow declines and the mineral exports remain weak. A substantial balance of payments imbalance stems from a weakening minerals market but also largely reflects the consequences of pro-cyclical economic management over the last two years. Mongolia may also face a downside risk from an uncertain global economic environment and further dampening of minerals market. Macro-economic and financial vulnerabilities are growing due to continuous expansionary fiscal and monetary policies reflected in significant off-budget spending and rapid credit growth. The government took a series of positive measures in recent months to address the challenges including the adoption of the new investment law, announcement of a fiscal consolidation plan, and subsequent amendment of the 2013 budget to tighten budget spending. Yet, further efforts are needed to shift the growth-oriented economic policies toward economic stability and rebuilding macro-economic policy buffers, in light of uncertain prospects in the external environment and the balance of payments situation. 2014-01-28T16:34:37Z 2014-01-28T16:34:37Z 2013-11 http://documents.worldbank.org/curated/en/2013/11/18485265/mongolia-economic-update http://hdl.handle.net/10986/16643 English en_US CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank, Washington, DC Economic & Sector Work :: Economic Updates and Modeling Economic & Sector Work East Asia and Pacific Mongolia

Mongolia Economic Update, November 2013

Similar Items