East of Center: Mongolia’s Economic Miracle, Revisited

We’ve covered Mongolia’s remarkable economic rise before, but some extraordinary new figures justify a fresh look. In the European Bank for Reconstruction and Development’s 18 October Regional Prospects report on post-Communist Europe, Central Asia and Turkey, Mongolia is one of the only countries whose 2012 GDP growth forecast isn’t downgraded; moreover, its forecast leads the 31-country sample at 12 percent. Even more impressive, in late September Mongolia’s deputy finance minister announced that per capita GDP would double to $5,000 by the end of 2012. That’s right – Mongolians should enjoy a two-fold increase in living standards in just over a year. To read the full article, click here: Mongolia’s Economic Miracle, Revisited

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