Mongolia’s economic growth to stay muted for 2022

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Mongolia’s economic growth is expected to stay muted in 2022, constrained by high inflation, persistent trade disruptions, tighter external financing conditions and complex geopolitical risks in 2022, said an Asian Development Bank (ADB) report released on Wednesday.

The Asian country’s economic growth is projected to expand 2.3 percent in 2022 before climbing to 5.6 percent in 2023, supported by domestic demand, investment, and recovery in industry, agriculture and services, the ADB said in its flagship annual economic report, Asian Development Outlook 2022.—Xinhua

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