Financial sector takes up less than 5% of country’s GDP

2016-01-15 13:14:46

Ulaanbaatar /MONTSAME/ A national forum dubbed “Financial Market Development” is running at State House. In the opening remarks, the Speaker Z.Enkhbold underlined that Mongolia’s financial sector is covering only 4.7 percent of gross domestic products.

The fact that 4.0 percent is made up by banking and 0.7 percent–by non-bank institutions "is an unsatisfactory performance compared with international standards", he added.

After this he highly spoke successful trading of 34 percent state share of Mongol Post Company at the Stock Exchange last week. “This has showed that companies have plenty of opportunities to extend their scope of operations and to renovate their technologies through drawing inexpensive source of investment from shares market. Although the economic situation was burdensome in 2015, the year saw the most remarkable market capitalization value at Mongolian Stock Exchange (MSE) in the last 25 years,” he highlighted.