ABOUT ECONOMIC GROWTH FORECAST
Ulaanbaatar, Mongolia /MONTSAME/ The economic growth of Mongolia is foreseen to reach 15.2 per cent by the next year thanks to an increase in the mining sector and its influence on other spheres, new vacancies, good conditions for foreign investments, and an increase in animal husbandry.
It was said at a regular cabinet meeting on Wednesday. The government sees that the mining sector's growth might increase to 24.8 per cent, and non-mining sectors--13.3 per cent by 2013.
In previous year, Mongolia's economic growth stood at 17.3 per cent, influenced by the construction in mining, by a boost in the world market of prices of products exported by Mongolia, and a favorable weather. As the economic growth is expected to increase, the inflation rate is forecast to reach 13.1 per cent.
Moreover, Mongolian Togrog's (MNT) rate might strengthen next year thanks to a continuation of foreign investments to the mining sector, a capital flow connected with implementation of the biggest projects and programs, to demand and price of gold and copper at the world market, according to the forecast.
The cabinet discussed a statement on the budgetary framework for 2013 of the master budget, a draft law on budget assumptions for 2014-2015, and related draft laws. These will be submitted to parliament.
B.Khuder
It was said at a regular cabinet meeting on Wednesday. The government sees that the mining sector's growth might increase to 24.8 per cent, and non-mining sectors--13.3 per cent by 2013.
In previous year, Mongolia's economic growth stood at 17.3 per cent, influenced by the construction in mining, by a boost in the world market of prices of products exported by Mongolia, and a favorable weather. As the economic growth is expected to increase, the inflation rate is forecast to reach 13.1 per cent.
Moreover, Mongolian Togrog's (MNT) rate might strengthen next year thanks to a continuation of foreign investments to the mining sector, a capital flow connected with implementation of the biggest projects and programs, to demand and price of gold and copper at the world market, according to the forecast.
The cabinet discussed a statement on the budgetary framework for 2013 of the master budget, a draft law on budget assumptions for 2014-2015, and related draft laws. These will be submitted to parliament.
B.Khuder
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