79 percent of foreign direct investment made in mining sector www.montsame.mn
Ulaanbaatar /MONTSAME/ In 2017 financial account balance of Mongolia had a surplus of USD 2.4 billion.
Whereas, current and capital account balance had a deficit of USD 907.1 million. As mentioned in a financial stability report, current account deficit had been mainly covered by foreign loans and resource of foreign exchange reserves in 2013-2016, but it was funded by direct investment inflow in 2017.
Bank of Mongolia reported that as of the third quarter of 2017, foreign direct investment to Mongolia was USD 702 million, among which USD 285 million from Canada and USD 155 million from Luxembourg. 79 percent of the foreign direct investment was made in mining sector.