Mongolia Quarterly Economic Update, January 2011

The economy continues to recover with most sectors rebounding strongly from the sharp drop in output late 2008 and early 2009. Preliminary estimates suggest that real Gross Domestic Product (GDP) grew by 6.1 percent year-on-year in 2010, following...

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Bibliographic Details
Main Author:	World Bank
Format:	Report
Language:	English en_US
Published:	Washington, DC 2017
Subjects:	ACCESS TO INFORMATION ACCOUNTABILITY ACCOUNTING ADVANCED DEGREES ARREARS ASSET PORTFOLIO ASSET PRICE BAD DEBTS BALANCE SHEET BANK BALANCE SHEETS BANK DEPOSITS BANK HOLDINGS BANK LENDING BANK RATE BANK RESTRUCTURING BANKING RESTRUCTURING BANKING SECTOR BANKING SECTOR REFORM BANKING SYSTEM BASIC NEEDS BENEFICIARIES BID BILLS OF EXCHANGE BLACK MARKET BOND YIELDS BONDHOLDERS BUDGET DEFICIT BUDGET MANAGEMENT BUDGET SURPLUS BUDGETING CAPACITY CONSTRAINTS CAPITAL ACCOUNT CAPITAL ASSETS CAPITAL EXPENDITURES CAPITAL INFLOWS CAPITAL INVESTMENT CAPITAL STRUCTURE CAPITALIZATION CASH TRANSFER CASH TRANSFERS CASUAL WORKERS CENTRAL BANK CENTRAL BANK BILL CENTRAL BANK BILLS COMMERCIAL BANK COMMERCIAL BANKS COMMERCIAL TRANSACTIONS COMMODITY PRICE COMMODITY PRICES CONSUMER PRICE INDEX CONTINGENT LIABILITIES CORPORATE GOVERNANCE CORRUPTION CREDIT AVAILABILITY CREDITORS CURRENT ACCOUNT CURRENT ACCOUNT DEFICIT CURRENT ACCOUNTS DEBT CRISIS DEBT FINANCING DEBT MARKETS DEBTS DECENTRALIZATION DEMAND FOR CREDIT DEPOSIT DEPOSITORS DEPOSITS DEVELOPING COUNTRIES DEVELOPMENT BANK DEVELOPMENT BANKS DISBURSEMENT DOMESTIC BANKS DOMESTIC CREDIT DOMESTIC CURRENCY DOMESTIC DEBT DOMESTIC GOVERNMENT BONDS EARNINGS ECONOMIC DEVELOPMENT ECONOMIC DEVELOPMENTS EMPLOYMENT EQUIPMENT EUROPEAN CENTRAL BANK EXCISE TAXES EXPENDITURE EXPENDITURES EXPORT GROWTH EXTERNAL BORROWING EXTERNAL DEBT FARMERS FINANCIAL ACCOUNT FINANCIAL CAPITAL FINANCIAL INSTITUTIONS FINANCIAL INTERMEDIATION FINANCIAL INVESTORS FINANCIAL STABILITY FINANCIAL STRUCTURE FINANCIAL SUPPORT FINANCIAL SYSTEM FINANCIAL TOOL FISCAL DEFICIT FISCAL POLICY FOREIGN BANKS FOREIGN CURRENCY FOREIGN DIRECT INVESTMENTS FOREIGN INVESTMENTS FREEDOM OF INFORMATION GOVERNMENT BORROWING GOVERNMENT GUARANTEES GOVERNMENT POLICY GOVERNMENT REVENUES GOVERNMENT SPENDING GREATER ACCESS GROSS DOMESTIC PRODUCT HOLDING HOUSING HUMAN DEVELOPMENT IMPORT DUTIES INCOME TAX INCOME TAXES INFLATION INFLATION RATE INFLATIONARY PRESSURES INFORMAL WORKERS INFRASTRUCTURE FINANCING INSTRUMENT INSURANCE INSURANCE PREMIUMS INTEREST RATE INTEREST RATES INTERNAL AUDIT INTERNATIONAL FINANCIAL MARKETS INTERNATIONAL INVESTMENT INTERNATIONAL MARKETS INTERNATIONAL RESERVES INVESTMENT CAPITAL INVESTMENT PROCESS INVESTMENT PROJECTS JOB OPPORTUNITIES JUDICIAL REFORM KDB LABOR FORCE SURVEY LABOR MARKETS LACK OF TRANSPARENCY LAWS LEGAL FRAMEWORK LEGAL REQUIREMENTS LEGAL RIGHTS LEGISLATION LIQUIDITY LOCAL BANKS LOCAL CURRENCY LONG-TERM LOANS MIGRATION MINORITY POPULATIONS MONETARY POLICIES MONETARY POLICY NATURAL DISASTER NET LOSSES NOMINAL INTEREST RATES NON-PERFORMING LOAN NON-PERFORMING LOANS NONPERFORMING LOANS NPL OUTSTANDING LOANS OWNERSHIP STRUCTURE PENSION PENSIONS PERSONAL INCOME PERSONAL INCOME TAXES PORTFOLIO INFLOWS PORTFOLIO INVESTMENT PREPAYMENTS PRIVATE CAPITAL PRIVATE FINANCING PRIVATE LENDING PRIVATIZATION PROFITABILITY PROMISSORY NOTES PUBLIC DEBT PUBLIC EDUCATION PUBLIC FINANCE PUBLIC FINANCES PUBLIC INVESTMENT PUBLIC SPENDING PUBLIC-PRIVATE PARTNERSHIPS REAL EXCHANGE RATE REAL INTEREST REAL INTEREST RATE REAL INTEREST RATES REAL SECTOR RECEIPTS RECESSION REGULATORY POLICIES REMITTANCES RESERVE RESERVES RISK FACTORS RISK MANAGEMENT RISK MANAGEMENT SYSTEMS SAVINGS SECURITIES SHAREHOLDERS SHORT-TERM BILLS SMALL BANKS SOCIAL DEVELOPMENT SOCIAL DEVELOPMENTS SOCIAL SECURITY SOCIAL WELFARE SOLVENCY SOURCE OF INCOME SOVEREIGN BOND SOVEREIGN DEBT SOVEREIGN DEBT PROBLEMS STATE BANK SUPERVISORY BOARD TAX TAX EXEMPTIONS TECHNICAL ASSISTANCE TIME DEPOSITS TRADE BALANCE TRANSPARENCY TRANSPORT UNEMPLOYMENT UNION URBAN AREAS WAGES
Online Access:	http://documents.worldbank.org/curated/en/506771468053662045/Mongolia-quarterly-economic-update-January-2011 http://hdl.handle.net/10986/27804

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Summary:	The economy continues to recover with most sectors rebounding strongly from the sharp drop in output late 2008 and early 2009. Preliminary estimates suggest that real Gross Domestic Product (GDP) grew by 6.1 percent year-on-year in 2010, following an outturn of minus 1.3 percent in 2009. However, winter arrived in Mongolia with the agriculture sector still feeling the impact from last year's dzud. The sector has now experienced double-digit contractions for the third quarter in a row. The exchange rate against the US dollar has been slowly appreciating back to the pre-crisis level. In December 2010, the average monthly exchange rate against the US$ appreciated by 3.0 percent, compared to the previous month, or 15 percent compared to December 2009. The latest survey conducted in informal labor markets in December 2010 revealed a reduction in number of casual workers by about 40 percent compared to September due to the seasonal closure of construction labor markets, and reduced outdoor sales activities due to cold weather. Mongolia has made significant progress in improving budget transparency, but there is still considerable room for improvement. Finally, although Mongolia's laws are easily accessible online and court processes are generally impartial and transparent, the predictability of court decisions is limited and the courts, enforcement and registration agencies are often perceived as corrupt by the public.

Mongolia Quarterly Economic Update, January 2011

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