Central Asia Economic Paper No. 4, October 2012
By Mathieu Boulègue
With a 17.3 percent growth rate recorded in 2011, Mongolia is one of the fastest growing economies in the world.
The Mongolian mining industry has been experiencing unprecedented growth due to the arrival of international raw material extracting companies and foreign investors, who have been battling for their share of natural resources—primarily coal, copper, uranium, and rare ores.
Little progress has actually been made to modernize the country’s economy and to tack a worrying inflation rate and the numerous agriculture difficulties.