1 MONGOLIA TO EXTEND QUARANTINE MEASURES UNTIL 30 JUNE WWW.NEWS.MN PUBLISHED:2020/05/26      2 MONGOLIA TO MAINTAIN STRICT VIRUS REGULATIONS 'UNTIL VACCINE FOUND' WWW.MEDICALXPRESS.COM  PUBLISHED:2020/05/26      3 MONGOLIA REPORTS ONE MORE RECOVERY FROM COVID-19 WWW.XINHUANET.COM PUBLISHED:2020/05/26      4 JAPAN TO PROVIDE NON-REFUNDABLE AID TO MONGOLIA WWW.MONTSAME.MN PUBLISHED:2020/05/26      5 AMENDMENT TO CONSTITUTION COMES INTO FORCE TODAY WWW.MONTSAME.MN PUBLISHED:2020/05/26      6 FOREIGN TRADE BALANCE DEFICITS USD 213 MILLION WWW.ZGM.MN PUBLISHED:2020/05/26      7 MNT213 BILLION SPENT ON HEALTH SECTOR WWW.MONTSAME.MN PUBLISHED:2020/05/26      8 UB TO USE FACIAL RECOGNITION TO FIGHT CRIME WWW.NEWS.MN PUBLISHED:2020/05/26      9 MONGOLIA AND TAIWAN: A GROWING TRADE RELATIONSHIP WWW.NEWS.MN PUBLISHED:2020/05/24      10 THE WAY WE SHOP HAS FUNDAMENTALLY CHANGED. THAT'S GOOD NEWS FOR ALIBABA WWW.CNN.COM PUBLISHED:2020/05/24      ЦАХИЛГААН АВТОМАШИН ТҮРГЭН ЦЭНЭГЛЭХ МОНГОЛЫН АНХНЫ СТАНЦ АШИГЛАЛТАД БҮРЭН ОРЛОО WWW.EAGLE.MN НИЙТЭЛСЭН:2020/05/26     СЯ: V/23-НД ГАШУУНСУХАЙТ БООМТООР 643, ШИВЭЭХҮРЭНГЭЭР 312 АВТОМАШИН НҮҮРС ЭКСПОРТОЛСОН WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2020/05/26     ОХУ-Д ҮЗҮҮЛЖ БУЙ САЯ АМ.ДОЛЛАРТАЙ ТЭНЦЭХ МАХ, МАХАН БҮТЭЭГДЭХҮҮНИЙ ХҮМҮҮНЛЭГИЙН ТУСЛАМЖИЙН ГЭРЧИЛГЭЭГ ГАРДУУЛАВ WWW.IKON.MN НИЙТЭЛСЭН:2020/05/26     "COVID-19 ЦАР ТАХЛААС ИРГЭДИЙН ЭРҮҮЛ МЭНДИЙГ ХАМГААЛАХАД ЗОРИУЛЖ 213.7 ТЭРБУМ ТӨГРӨГИЙН САНХҮҮЖИЛТ ХИЙГЭЭД БАЙНА" WWW.IKON.MN НИЙТЭЛСЭН:2020/05/26     ТАВДУГААР САРЫН 24-НИЙ БАЙДЛААР КОРОНАВИРУСИЙН 87,522 ШИРХЭГ ОНОШЛУУР ИМПОРТОЛЖЭЭ WWW.IKON.MN НИЙТЭЛСЭН:2020/05/26     УОК: АЛТАНБУЛАГ БООМТООР 594 ОЮУТНЫГ ТАТАН АВНА WWW.EAGLE.MN НИЙТЭЛСЭН:2020/05/26     ЭДИЙН ЗАСАГ ӨМНӨХ ОНЫ МӨН ҮЕЭС 10.7 ХУВИАР АГШИВ WWW.EAGLE.MN НИЙТЭЛСЭН:2020/05/26     АМГТГ: НИЙСЛЭЛД А-92 АВТО БЕНЗИНИЙ ДУНДАЖ ҮНЭ 1360 ТӨГРӨГ БОЛЖ БУУРЛАА WWW.EAGLE.MN  НИЙТЭЛСЭН:2020/05/26     COVID-19-ИЙН ХЯЗГААРЛАЛТЫГ 6 ДУГААР САРЫН 30-НЫГ ХҮРТЭЛ СУНГАЛАА WWW.IKON.MN НИЙТЭЛСЭН:2020/05/25     ОУВС: ИРЭХ 5 ЖИЛД АРИЛЖААНЫ БАНКНУУД АШГАА ӨСГӨХӨД ХҮНДРЭЛТЭЙ WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2020/05/25    

Mining industry decline triggers GDP shrinkage www.zgm.mn

According to the National Statistics Office (NSO), in the first quarter of 2020, GDP at current prices decreased by 10.7 percent compared to the same period of the previous year. Analysts estimate that an average contraction reaches 3.9 percent, while the Governor of the Bank of Mongolia (BoM) said it was likely to deteriorate by 7 percent. The mining industry dwindled by 7.6 percentage points in the first quarter as exports fell sharply due to the COVID-19 pandemic. In addition, the transportation and communication sector accounted for 2.1 percentage points of the contraction, wholesale and retail trade for 1.3 percentage points, and net product tax for one percentage point. However, the growth of the agricultural sector had a positive impact on the economic growth of 0.5 percentage points. According to the recent assumption of BoM and the Asian Development Bank (ADB), economic growth is likely to stand at 1.8-2.1 percent by the end of the year. The pandemic was an unprecedented challenge. The slowdown in economic growth has reflected in inflation. Moreover, Moody’s has downgraded Mongolia’s long-term outlook from stable to negative and deficits in current account flow increased swiftly mainly due to the fell in export. The budget deficit was initially set at MNT two trillion but Moody’s doubled its losses to 8.5 percent of gross domestic product.



Published Date:2020-05-21