Earning expectation lowered by two-fold compared with last yearEconomy
Ulaanbaatar/MONTSAME/. Mongolian National Chamber of Commerce and Industry (MNCCI) conducted its annual ‘Business confidence index survey’ on March 3-27, involving a total of over 1800 businesses in Ulaanbaatar and provinces.
By sectors, 31 percent of the survey participants are operating business activities in trade field, 25 percent – services, 10 percent – construction, 9 percent –processing industry as well as 25 percent – agriculture, mining, transportation, tourism and ICT.
The participants evaluated that the expectation for macroeconomic environment will be low in 2020, and by all indicators, the inflation will remain unchanged as well as unemployment and poverty will increase.
About expectations for earnings in 2020, the participants answered it to be 36 percent, showed a two-fold decrease as compared with the result of last year. As for expectation on investment, it has decreased by 20 points against the last year.
Loan conditions, corruption and policy instability have been named as the encountering issues in the business environment and the problems are still remained the same compared with the previous year.