Mongolia Economic Update, April 2022
The report provides recent macroeconomic developments, outlook, and risks that Mongolia faces. The timing of the release of this report is ideal considering that, the Mongolian economy, which was recovering from the COVID-19 on the back of a successful vaccination program and income support, faced new challenges due to tightening of global financing conditions, triggered by a surge in inflation in advanced economies. This development complicates Mongolia’s repayment of its large external debt. Mounting instability and heightened risks call for adjustments in macroeconomic policies. The report also includes a special topic on fiscal sustainability of the Mongolian pension scheme. A series of parametric reforms are recommended to improve the financial sustainability of the current pensions system, which relies heavily on budget subsidy. Produced in collaboration with the SPJ team, this discussion was timely considering a forthcoming pension reform to improve Mongolia’s long-term fiscal sustainability.
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| Format: | Report biblioteca |
| Language: | English |
| Published: |
Washington, DC
2022-04
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| Subjects: | MONGOLIA ECONOMIC UPDATE, ECONOMIC RECOVERY, COVID-19 ECONOMIC IMPACT, GROWTH DRIVERS 2022, WEAK LABOR MARKET UPDATE, COVID RESTRICTIONS, SUPPLY SHORTAGES, BORDER DISRUPTIONS, 2021 MONETARY POLICY, FISCAL POLICY, TRADE DISRUPTION, ECONOMIC PERFORMANCE AND PROSPECTS, MONGOLIAN PENSION SCHEME, PENSION INNOVATION, |
| Online Access: | http://documents.worldbank.org/curated/en/099217304262220163/IDU075eaf9ad0a3f4040f0099870c4ddc3edcadb https://hdl.handle.net/10986/37373 |
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