The Wall Street Journal: Rapidly Growing Mongolia Hopes to Avoid Overheating

Mongolian Prime Minister Sukhbaatar Batbold said a tight monetary policy and budget discipline will check the rate of inflation and prevent Mongolia’s economy, one of the world’s fastest-growing, from overheating. Buoyed by a wave of foreign direct investment to exploit its extensive but largely untapped natural resources, Mongolia’s gross domestic product surged 17.3% last year—up from 6.4% in 2010. That has sparked concern that inflation, which reached 11.1% in December, could end up short-circuiting its blistering economic growth. “We have to have tight monetary policy. And also we will have to take control over the expenditures, especially on the budget side,” Mr. Batbold said in an interview with The Wall Street Journal during a visit to Japan. To read the full article & view the video, click hereRapidly Growing Mongolia Hopes to Avoid Overheating

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