The World Bank reclassified Mongolia as an upper-middle-income country for the 2024 fiscal year.
The World Bank has reclassified Mongolia as an upper-middle-income country for the 2024 fiscal year, up from its previous lower-middle-income status. This marks the first time Mongolia has been in the upper-middle-income category since 2014, with its gross national income per capita reaching an estimated $4,950. The country's GDP expanded by 7.0% last year, and the World Bank predicts a 4.8% growth for Mongolia's economy in 2024.
July 03, 2024
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