Mongolia Aims to Double GDP-per-Capita to $10,000
Mongolia Aims to Double GDP-Per-Capita to USD 10,000 by 2030
Mongolia is setting ambitious goals for economic growth, with plans to double its GDP-per-capita to USD 10,000 before the end of the decade. However, achieving this target will require significant investments in the country’s key mining and metals sector, according to Finance Minister B. Javkhalan.
The landlocked and mineral resources-rich country currently derives a quarter of its gross domestic product and 90 percent of exports from mining. Mongolia is home to Oyu Tolgoi, one of the world’s largest-known copper and gold deposits located in the Gobi desert. The government expects GDP-per-capita to rise to USD 6,000 this year from USD 5,000 last year, with the ultimate goal of reaching USD 10,000 before 2030.
In order to reach this ambitious target, Mongolia will need to ramp up investments in its mining and metals sector, which plays a crucial role in the country’s economy. The government is likely to focus on attracting foreign investment and implementing policies that support the growth of the mining industry.
Despite the challenges that lie ahead, Mongolia is determined to achieve its economic growth targets and further develop its mining and metals sector. With a strong emphasis on investment and economic policies, the country aims to transform its economy and improve the living standards of its citizens.
