Mining, domestic demand bolster Mongolia’s economy: World Bank ...Middle East

Ulan Bator: Mongolia’s economy is projected to grow by 5.3 per cent in 2024 and 6.5 per cent in 2025, driven by robust mining production and domestic demand, according to the World Bank’s latest semi-annual Mongolia Economic Update on Friday. Economic growth in Mongolia remained steady at 5.7 per cent year-on-year during the first half of 2024, with high-frequency data indicating continued momentum into the third quarter, Xinhua news agency reported. The World Bank attributed this solid performance largely to a sustained surge in mining and transportation services, despite a contraction in the agriculture sector caused by harsh climate conditions. Domestic demand was also a key driver of gr

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