World Bank: Modest recovery expected in Mongolian economy in 2018
Ulaanbaatar /MONTSAME/ The outlook for developing East Asia is expected to remain broadly positive in the next three years, driven by robust domestic demand and a gradual recovery in the global economy and commodity prices, according to a new World Bank report.
The report was presented at the World Bank Mongolia Office on April 13.
It says: Poverty in the region is likely to continue to fall, driven by sustained growth and rising labor incomes.
The global environment and domestic vulnerabilities, however, still pose risks to the region’s prospects. In the face of faster-than-expected interest rate hikes in the U.S., protectionist sentiments in some advanced economies, and rapid credit expansion and high levels of debt in several East Asian countries, the report recommends that policy makers continue to focus on prudent macroeconomic management and ensuring sustainable fiscal balances in the medium term.
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