Good times ahead for Mongolia economy

The World Bank has projected that Mongolia’s economic growth rate is likely to surpass 6 percent between 2019 and 2020. “Last year was a good year for Mongolia with favorable commodities prices and the successful implementation of the government’s economic recovery program,” said Jean-Pascal N. Nganou, World Bank senior economist for Mongolia. According to a report released by the bank, the recovery is expected to accelerate with a GDP growth rate averaging more than 6 percent between 2019 and 2020, driven by large foreign direct investment in mining.