Government expenditure projected to increase by 671 billion MNT

The American Chamber of Commerce in Mongolia

2018-07-02 15:02 GMT+8

The Bank of Mongolia has released its June inflation outlook report. According to the report, the outlook for inflation remains stable.

The Bank of Mongolia is aiming to maintain the rising inflation at the target of eight percent. As of May, inflation in Ulaanbaatar amounted to 6.6 percent while the nationwide inflation rate remained at 6.1 percent. Demand-pull inflation has been gradually increasing in conjunction with a continuing economic recovery. Analysts view that the inflation rate will stabilize at the target level in coming years.

According to the report, government expenditure is projected to grow by five percent and Oyu Tolgoi investment is cited as a factor contributing to an improved economic outlook for 2019.​

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