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What is July 2014 Macroeconomic Overview about?

Real GDP growth for the first half of 2014 was 5.3% year-on-year, a decrease from the same period last year. Inflation rose to 14.9% in July, its highest level in over a year. The Central Bank increased interest rates to 12% to curb inflation and stabilize the currency, which had depreciated over 10% against the dollar since January. Exports grew but the trade deficit widened as imports continued to exceed exports, placing pressure on foreign reserves.

Author

UrtaBaasanjargal

Language

EN