ADB forecasts Mongolia's GDP growth to 5.5% in 2024 and 6.0% in 2025, driven by external demand and government spending.

The Asian Development Bank (ADB) projects Mongolia's GDP to grow by 5.5% in 2024, an increase from April's 4.1% forecast, with further acceleration to 6.0% in 2025. This growth is fueled by strong external demand, rising consumption, and increased government spending, particularly in services and mining. However, risks include potential delays in the Oyu Tolgoi mining project and disruptions from geopolitical tensions and climate-related issues.

September 25, 2024
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