Mongolia's external debt reached 39.6 billion U.S. dollars in the second quarter of 2025, up 12.7 percent from the same period last year, according to the National Statistics Office on Monday, News.az reports citing CNN.
The growth in external debt was largely driven by a 10.7-percent increase in direct investment and intercompany loans, as well as a 10.3-percent rise in government borrowing, according to the data.
Meanwhile, the credit rating agency Fitch Ratings forecasted that Mongolia's gross general government debt will decline to below 40 percent of gross domestic product (GDP) in the medium term from 41.8 percent of GDP at the end of 2024.
However, a substantial share of public debt is denominated in foreign exchange, highlighting exchange-rate risk, the agency added.
Fitch has predicted that Mongolia's real GDP growth will pick up to 5.7 percent this year, driven by an agricultural recovery after two harsh winters.

Published Date:2025-09-16