Mongolia Country Profile

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Four years ago Mongolia’s economy grew at 17.3%, the world’s fastest. This year’s growth is expected to be little more than 1.0%. The reason for the collapse is the sharp drop in FDI from US$4.7 bln in 2011 to only US$230 mln last year. However, the removal of the Mongolian People’s Party from the grand coalition has allowed the government to resolve many of the disputes with the mining companies, which led to the drop in FDI, and to approve several large-scale projects.