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Fall of Mongolian coalition government could lead to severe economic downturn
As the vote approaches, new economic data – which can be viewed in full here – produced by Mongolia's Economic Development Board warns of the scale of the economic hit Mongolia could face, namely:
These forecasts are in line with the experiences of other countries where political instability has had a negative impact on the economy, including following the fall of a coalition government:
Commenting, Dr Batnasan B., Professor at the Business School of the National University of Mongolia and Member of the Economic Development Board, said:
This new analysis, as well as precedent from around the world, clearly shows the magnitude of the decision to be taken by lawmakers on Monday, and the jeopardy to the significant economic progress Mongolia has made since the COVID-19 pandemic, including adding $9 billion USD to its economy and increasing GDP per capita by an additional $2,400 .
Economic Development Board of Mongolia : https://www.facebook.com/profile.php?id=61574363563476
Full economic analysis available here: https://nrpa.gov.mn/mn/zasgiyn-gazryn-togtvorguy-baydal
View original content:https://www.prnewswire.co.uk/news-releases/fall-of-mongolian-coalition-government-could-lead-to-severe-economic-downturn-302470036.html