Mongolian Properties - Overseas Property & Real Estate in Mongolia | Economy of Mongolia - After years of flat or negative growth rates, e...

Economy of Mongolia

After years of flat or negative growth rates, economic growth took off in 2004 (10.6%) and is expected to stabilize at between 5 to 6% per year for the next few years. The bulk of this growth comes from the mining and agriculture sectors.

There are tangible signs of prosperity; wooden or brick houses are springing up alongside gers in the outtskirts. Ulaanbaatar experiences traffic jams at almost any hour of the day. New shopping malls, Restaurant, Bars, clubs and internet cafes are opening every month. As the banking sector recovered from its 1997 crash, consumer confidence improved better rates of interest are constantly being offered, encouraging domestic credit from the private sector.