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Mongolia

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Country summary

Capital

Ulaanbaatar

Borders

China 4,677 km, Russia 3,543 km

Government type

parliamentary

Population

3,041,142 (July 2010 est.)[1]

Population growth

1.493% (2010 est.)[1]

Life expectancy

67.65 years[1]

Unemployment

2.8% (2008)[1]

Index of Economic Freedom

88[2]

Corruption Perceptions Index

120[3]

Doing Business ranking

60[4]


The Mongols gained fame in the 13th century when under Chinggis KHAN they established a huge Eurasian empire through conquest. After his death the empire was divided into several powerful Mongol states, but these broke apart in the 14th century. The Mongols eventually retired to their original steppe homelands and in the late 17th century came under Chinese rule. Mongolia won its independence in 1921 with Soviet backing and a Communist regime was installed in 1924. The modern country of Mongolia, however, represents only part of the Mongols' historical homeland; more Mongols live in the Inner Mongolia Autonomous Region in the People's Republic of China than in Mongolia. Following a peaceful democratic revolution, the ex-Communist Mongolian People's Revolutionary Party (MPRP) won elections in 1990 and 1992, but was defeated by the Democratic Union Coalition (DUC) in the 1996 parliamentary election. The MPRP won an overwhelming majority in the 2000 parliamentary election, but the party lost seats in the 2004 election and shared power with democratic coalition parties from 2004-08. The MPRP regained a solid majority in the 2008 parliamentary elections but nevertheless formed a coalition government with the Democratic Party. The prime minister and most cabinet members are MPRP members.[1]

Economical characteristicsEdit

  • Currency: Tögrög (ISO code: MNT)
  • Central bank discount rate: 10% (31 December 2009)[1]
  • Commercial banks lending rate: 8% (2009)[1]
  • Stock of money (M1): $451.4 million (31 December 2009)[1]
  • Quasi money (with M1 makes M2): $1.545 billion (31 December 2009)[1]


StatisticsEdit

Statistic / Year 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008
GDP (million USD)[5] 906 1 089 1 169 1 273 1 448 1 816 2 306 3 132 3 930 5 258
Govt. debt (% of GDP)[6] 97.987 81.853 74.955 54.743 46.892
Govt. revenue (% of GDP)[7] 21.242 25.424 27.576 27.170 40.858 40.501 32.052
Govt. expenses (% of GDP)[8] 22.084 23.370 23.920 23.810 25.313 25.008 26.325
Debt to revenue (years) 4.613 3.220 2.718 1.340 1.158

ReferencesEdit

Note: statistical data was rounded. Different sources may use different methodologies for their estimates. Debt to revenue is calculated by dividing the two variables from their original ('unrounded') values. It represents how long it would a government take to repay its entire debt if it used its whole revenue for this purpose.

  1. 1.0 1.1 1.2 1.3 1.4 1.5 1.6 1.7 1.8 CIA - The World Facebook. "Mongolia", from The World Facebook. Referenced 2010-09-30.
  2. Heritage Foundation. "Mongolia", Economic Freedom Score. A lower ranking is better; but please be careful when comparing between different countries or years. Referenced 2010-09-30.
  3. Transparency International. "Mongolia", Corruption Perceptions Index 2009. A lower ranking is better; but please note that the numbers cannot be compared between countries or years due to different methodology. Referenced 2010-09-30.
  4. Doing Business. "Mongolia", Doing Business 2010 (part of The World Bank Group). A lower ranking is better; but please be careful when comparing between different countries or years. Referenced 2010-09-30.
  5. World Bank. "Mongolia: GDP", from World Bank Data. Referenced 2010-09-30.
  6. World Bank. "Mongolia: government debt", from World Bank Data. Referenced 2010-09-30.
  7. World Bank. "Mongolia: government revenue", from World Bank Data. Referenced 2010-09-30.
  8. World Bank. "Mongolia: government expenses", from World Bank Data. Referenced 2010-09-30.

External linksEdit

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