Insight: Life in Mongolia
In a bid to improve its economy, Mongolia has crafted policies to liberalize markets to further improve the financial sector. However, due to continued corruption and inefficient rule of law, Mongolia’s economy suffers a gradual progress. In terms of trade, both imports and exports play vital role in its economy as it accounts to 87 percent to the country’s Growth Development Product. Moreover, mining and agriculture continues to be vital in Mongolia’s economic success.
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