Posts tagged ‘Economy’

Mongolia Social and Economic Indices February 2010

By , 23 March, 2010, 1 Comment

ULAANBAATAR, MONGOLIA – The National Statistics Office has published social and economic data. All figures are for February alone or for the first two months in 2010 and, unless otherwise mentioned, all comparisons are with the corresponding period in 2009.

CPI

The consumer price index rose 3.0 percent over January, 5.4 percent over the end of 2009, and 8.3 percent over February 2009.

State budget

The overall balance in the General Government budget in the first two months of 2010 showed a deficit of MNT51.4 billion, MNT 0.8 billion less than in the same period of the previous year, mainly because revenue increased 53.8 percent more than did expenditure.

The current account deficit was MNT36.6 billion. Tax revenue was 74.8 percent more than in 2009. Windfall profits tax yielded 227.4 times more, corporate income tax 2.2 times more, and value added tax 34.6 percent more. Non-tax revenue was up by 91.3 percent.

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Only Economic Diversification Can Assure Survival, Says Former PM

By , 13 March, 2010, 2 Comments

Former Prime Minister D. Byambasuren does not see any “quick exit from the present economic crisis, even if some superficial indications may look promising”.

The distribution of cash has led to an overall increase in prices of items in daily use. Banks are still troubled with outstanding loans and the long-term impact of the dzud will be clear only with time. Livestock is the economy’s key sector and difficulties there will be felt in many areas of life: herders’ livelihood, the consumer market, and health of the banking system. Herders, he felt, are not receiving adequate support, but abandoning them will have disastrous consequences.

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