Gross Domestic Product (GDP) growth accelerated to an unprecedented 17.3 percent in 2011 from 6.4 percent in 2010 and the unemployment rate fell from 13 percent in 2010 to 9 percent in 2011. However, real wages for unskilled workers in the urban informal sector are starting to fall as the inflation rate reached 11.1 percent year-on-year in December. Sharply rising government spending is the root cause of overheating: government spending rose by 56...
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Document also available in :
Mongolian
DETAILS
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2012/02/01
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Working Paper
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67132
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1
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1
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2012/02/24
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Disclosed
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Mongolia quarterly economic update (February 2012)
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inflation
Citation
Mongolia quarterly economic update (February 2012) (English). Mongolia economic update Washington, DC: World Bank. http://documents.worldbank.org/curated/en/637771468053406763