Mongolia|economy|February 4, 2025 / 09:34 AM
Inflation rate in Mongolia reaches 9% in 2024

AKIPRESS.COM - The annual inflation rate in Mongolia was recorded at 9% nationwide and 9.1% in Ulaanbaatar at the end of 2024, Montsame reported.

4.7 percentage points were contributed by non-food items, while 3.2 percentage points were due to the increase in food prices.

The preliminary balance of payments for 2024 showed a surplus of $622 million. According to the Bank of Mongolia, the previous year's preliminary results indicated a current account deficit of $2,373 million and a financial account surplus of $3,339 million.

The M2 money supply reached MNT 43.3 trillion in last December, representing a 15.2% increase compared to the year before. Net Domestic Assets accounted for 16.2 percentage points of the annual growth in M2 money, while Net Foreign Assets contributed 1.1 percentage points.

Banks' total loan balance increased by 35.5% year-on-year in December, reaching MNT 36.8 trillion. As of that month, non-performing loans stood at 5.1%.

All rights reserved

© AKIpress News Agency - 2001-2025.

Republication of any material is prohibited without a written agreement with AKIpress News Agency.

Any citation must be accompanied by a hyperlink to akipress.com.

Our address:

299/5 Chingiz Aitmatov Prosp., Bishkek, the Kyrgyz Republic

e-mail: english@akipress.org, akipressenglish@gmail.com;

Follow us:

Log in


Forgot your password? - recover

Not registered yet? - sign-up

Sign-up

I have an account - log in

Password recovery

I have an account - log in