Mongolia Business and Mongolian Daily Business News

World Bank released June review of Mongolian Economy. Economic slowdown is all around the country according to the review. The economic crisis is slowing down in some sectors but Banking sector is at risk says the report. Budget deficit in June is increased if compared to April. Domestic economic slowdown had a positive impact on the Net Export due to decreased import. Export was increased in June compared to April. Foreign currency reserve was increased to 553’648 million USD due to softer interest rate policy from Mongol Bank. MNT savings were reduced and foreign currency savings were increased at the commercial banks. New loans granted to mining, construction and production sectors were reduced. Registering of unemployed is increasing at a fast rate. The unemployment rate is to get as high 12% says World Bank.

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