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Economy / Featured News / Mongolia News / June 12, 2014

The macroeconomic indicators show stable growth

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In May 2014, the national consumer price index rose 1.5 percent from the previous month, totaling a 13.7 percent increase from the previous year. This percentage increase is largely due to higher prices in goods and services such as food and nonalcoholic beverages, restaurants and hotels, and other miscellaneous products according to National Statistical Office monthly release
According to a report from the Bank of Mongolia, money supply reached 10233.3 billion togrog, representing a 0.3 percent increase from the previous month. Circulated currency reached higher levels as well, totaling 863.0 billion togrog, a 2.5 percent increase from April 2014. Loans outstanding amounted to 12053.4 billion togrog, which is a 2.6 percent increase from the previous month.
These indicators are rising at quick levels as principals in arrears amounted to 380.6 billion togrog, equivalent to a 27.3 percent increase from April 2014. Nonperforming loans reached 619.7 billion togrog, rising 0.6 percent from the previous month.
Many of the macroeconomic indicators show stable growth. Revenues increased as equilibrated revenue and grants of the General Government Budget totaled 2177.5 billion togrog. Total expenditure and net landing of the budget came out to 2284.5 billion togrog. This represents a deficit of 106.9 billion.  As subsidies and transfers rise as well as expenditure on goods and services, the total expenditure and net landing continues to grow.
External trade balance presents a similar story. In the first 5 months of 2013, there was a deficit of 824.7 million USD. However, within the first five months of this year, deficits added up to 204.0 million USD, a 620.8 million USD decrease.

 

SOURCE: Mongolian Economy




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