Exports of Mongolia reach $12.5 billion - Finance Ministry

• Published date: 12 January 2023
• Publication title: Central Asian News Services

Exports of Mongolia reached $12.5 billion, Finance Minister Javkhlan Bold announced during the government meeting on January 11. The Ministry of Finance presented the execution of the budget for 2022.

The state budget deficit has decreased, and the budget balance has improved by 1.4 trillion tugriks, the Finance Minister noted.

"The improvement in the 2022 budget balance and deficit reduction was mainly driven by economic growth. We expected economic growth to be between 2.6% and 3% by the end of the year, but overall growth reached 4%. This means that after an economic contraction of -4.6% in 2020, there has been consistent economic growth in 2021 and 2022," the Minister explained.

The budget deficit, which was supposed to be 2.4 trillion tugriks...