Mongolia’s Budget Boom

The government is riding high on the back of a commodity-fueled surge. With its revenue swelled by 29% in the first nine months of 2024, driven largely by coal exports, it would be easy to conclude that the country is on an unstoppable trajectory toward prosperity.

Beneath these numbers—a GDP on the rise and a budget surplus of 1.5 trillion MNT—loom critical challenges that, if ignored, could derail the country’s progress.

The International Monetary Fund (IMF) has taken notice.

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