Mongolia's Economic Prospects

Overview

This publication examines Mongolia’s recent economic development and outlines reforms that would help the country take advantage of its many opportunities.

Natural Resources and Trade

Mongolia is rich in natural resources and, although landlocked, is well-placed to boost trade with its two giant neighbors.

Economic Development Goals

The country needs to diversify its economy beyond mining, enhance economic stability, and increase employment.

Recommendations for Maximizing Potential

To maximize Mongolia’s potential the government can improve macroeconomic management, enhance the skill base, and provide hard and soft infrastructure to promote trade and efficient logistics.

Governance and Reforms

Governance and institutional reforms are also crucial. The government will need to continue to drive reforms so that they are well implemented and deliver the intended change.