Mongolia; 2006 Article IV Consultation: Staff Report; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Mongolia
This 2006 Article IV Consultation highlights that Mongolia’s macroeconomic performance in 2005–06 has been robust, underpinned by a run-up on copper and gold prices, declining inflation, and budget and external current account surpluses. Real GDP growth in 2005–06 is estimated at 7 percent, in line with the average pace since 2002. The mineral sector has been a key engine of growth, supported by favorable weather conditions, and buoyant recovery in the construction and services sectors. Mongolia’s medium-term outlook for sustained growth and poverty reduction is broadly favorable, but subject to risks.
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