Mongolia's economy to grow less than expected
13 de enero de 2021, 0:0
Ulaanbaatar, Jan 13 (Prensa Latina) Mongolia's economic growth for 2021 will be 4.3 percent, below the previous forecast of the World Bank, local press reported in Ulaanbaatar.
The fight against the novel SARS- CoV-2 coronavirus, which caused the Covid-19 pandemic, caused a rise in the region's fiscal deficit; so many governments resorted to domestic indebtedness, and others, such as Mongolia, to external financing.
The Asian region will grow by 7.4 percent in 2021, led by China's rebound because of the launch of an effective vaccine in the first quarter of the year in major economies, and later in emerging and small countries.
Economic activity in the region will remain below the pre-pandemic trend, reflecting the lasting damage from the Covid-19 impact.
As long as the uncertainty over the Covid-19 disease remains high, investment and productivity will continue to be depressed in countries such as Mongolia, which depend on the boost from the big Asian economies.
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