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Mongolia quarterly economic update (January 2011) (Inglês)

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.

Detalhes

  • Data do documento

    2011/01/01

  • TIpo de documento

    Documento de Trabalho

  • No. do relatório

    62779

  • Nº do volume

    1

  • Total Volume(s)

    1

  • País

    Mongólia,

  • Região

    Leste Asiático e Pacífico,

  • Data de divulgação

    2011/06/23

  • Disclosure Status

    Disclosed

  • Nome do documento

    Mongolia quarterly economic update (January 2011)

  • Palavras-chave

    real interest rate on deposits;Public Investment Management System;macroeconomic point of view;short period of time;national tax authority;Law on Public Procurement;Commonwealth of Independent States;external terms of trade;dynamic computable general equilibrium;food price;inflation;public investment planning;expansionary fiscal policy;government spending;commodity price;total government spending;access to justice;informal labor market;wages and salary;public sector wage;supreme audit institution;current account deficit;revenue aggregate;basic consumption need;number of workers;grain production shortfall;domestic government bond;risk management system;rise in inflation;transfer of income;total electricity generation;corporate income tax;lack of transparency;food price inflation;information on revenue;construction labor market;food consumption pattern;technical assistance mission;income on food;prices of import;health insurance premium;social security contribution;gdp growth rate;domestic price index;civil society group;bank balance sheet;indirect tax revenue;increase in prices;fiscal deficit;Cash Transfer;capital expenditure;Exchange Rates;budget transparency;meat price;food expenditure;inflation rate;net lending;transition path;budget deficit;public debt;stabilization fund;banking sector;retail trade;fiscal balance;monetary policy;real value;global environment;inflationary pressure;agriculture sector;public finance;budget plan;economic recovery;export ban;weather disaster;dairy product;upward pressure;wind velocity;real wage;dairy prices;foreign currency;aggregate indicator;balanced budget;fiscal data;expenditure growth;Rural Poor;household survey;wage increase;Fiscal policies;trade deficit;international market;consumer price;deficit target;budget aggregate;mineral revenue;gold price;industrial production;government revenue;budget proposal;domestic demand;grain price;high inflation;supply side;inflation expectation;inflation pressures;local investment;generation loss;advance payment;mining revenue;approved budget;project negotiation;inflationary financing;upfront payment;domestic debt;frozen beef;euro zone;consumption remains;macroeconomic indicator;weather event;debt market;domestic inflation;export sector;domestic consumption;food import;nonperforming loan;domestic food;budget revenue;expenditure ceiling;baseline scenario;domestic counterpart;optimistic forecast;Budget Management;international partners;mineral export;harmful effect;inflationary impact;independent budget;commodity market;donor financing;rural population;international food;small manufacturing;rich economy;dutch disease;oil processing;financial system;export revenue;paved road;export other;horse meat;domestic asset;project selection;real wealth;food producer;aggregate expenditure;fuel import;export commodity;import volume;financial capital;herd owner;international reserve;registered unemployment;subsistence need;urban resident;coal export;budget system;draft law;Public-Private Partnership;infrastructure needs;food consumer;court process;court decision;Public Spending;import duty;excise tax;real gdp;budget surplus;cereal price;internal pressure;food supply;food product;external environment;capacity constraint;coal price;spare capacity;rolling basis;transport equipment;copper mine;poverty headcount;consumption basket;adjusted estimate;copper price;job opportunities;job opportunity;rising inflation;opinion poll;cash benefit;education service;Education Services;high spending;strategic guidance;capital repair;market wage;capital spending;traditional methods;mineral price;fiscal rule;royalty rate;Capital Investments;budget cycle;development partner;budgetary support;outstanding loan;legal right;government borrowing;output growth;base price;core inflation;meat industry;food requirement;price projection;banking system;expenditure plan;currency appreciation;deposit guarantee;dollar deposit;overseas borrowing;capital inflow;Capital Inflows;banking restructuring

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