Inflation rate stands at 3.4 percent

MONTSAME

2017-05-16 14:38 GMT+8

The National Statistics Office presented yesterday, May 15, Mongolia’s social and economic indicators as of the end of the fourth month of 2017. The economic highlights were the 1.3 increase in inflation, MNT 285.5 billion of budget deficit, MNT 747 billion of non-performing loans.   
Inflation went up by  4.8 percent in the first four months of this year, in specific, by 1.3 percent in April compared to the previous month and 3.4 percent against the same period of last year.

The 1.3 percent increase was mainly formed by 7.6 percent increase in meat and meat products’ prices, 3.0 percent increase in prices of beverages, mineral water and other food products, 2.9 percent increase in transports.

The annual 3.4 percent increase was mostly contributed by 7.7 percent increase in prices of transports, 2.7 percent increase in foods and beverages, especially, the 12.8 percent increase in prices of dairy products and eggs, as well as 2.3 percent increase in clothing and shoes.

The gross domestic products reached MNT 3,063.9 billion in the first quarter, indicating increase of MNT 122.7 billion or 4.2 percent compared to the same period of last year.

The government budget’s equilibrated balance saw deficit of MNT 285.5 billion. This shows decrease of MNT 378.1 billion in the budget deficit compared to that of the same period of the previous year.

In the first four months of 2017, equilibrated revenue and amount of financial assistance reached MNT 2,094.4 billion, and expenditure and outstanding loan reached MNT 2,379.8 billion.

Whereas exports increased by USD 552.3 million or 41.0 percent, imports increased by MNT 254.9 million or 29.6 percent against the same period of 2016.

Amount of non-performing loans in the banking system reached MNT 1,087.3 billion as of the end of April, 2017. This represents increase of MNT 13.4 billion against the same period of 2016, and of MNT 51.8 billion compared to the previous year.  

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