Business confidence index shows optimistic results

2019-07-17 16:16:57

Ulaanbaatar /MONTSAME/ According to a survey conducted by the Mongolian National Chamber of Commerce and Industry (MNCCI), Business Confidence Index 2018 had shown optimistic results or 0.47 for the first time.

Comparing the index with 2017, it was upped by 0.79 points. Optimistic results of the business confidence index can be linked to economic growth, especially, implementation of biggest projects, notes the chamber.

54 percent of total businessmen who participated in the survey concluded general situation of business environment has been improved from the previous year while 24 percent of them considered macro economic situation has been improved.

Sum of profit and incomes, the real indicator to measure business environment, has showed an increase of 25 points in 2017 while in 2018, 58 percent of businessmen answered business profit has been raised by certain amount comparing to the previous year.

As for investment, positive estimation of 2018 has been grown up by 20 points. Whereas, expectation on investment to be made in 2019 has been lowered by one point comparing with the previous year.

Short-term, high-interest loans, and policy instability have being named as the encountering issues in business environment in 2018 and the problems are still remained same with the previous year.

Since 2000, the MNCCI conducts Business Confidence Index survey which aims to assess businessmen’s confidence on business environment by reviewing status and further changes of businessmen and citizens’ expectations with indicators such us general situation of business environment, income of enterprises, major problems of macro economy, favored and ill-favored factors to business environment and challenges.

The survey involved a total of 845 businessmen in Ulaanbaatar city and rural areas having questionnaires in interview and online forms between April and June 2019. 

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