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Mongolia economic growth expected to top off at 8% in 2007 PDF Print E-mail
Thursday, 20 September 2007
ImageAsian banking officials have announced that Mongolia’s economy is expected to grow by eight percent in 2007. This is one of the highest growth rates in Asia. 

Figures released by the Manila-based Asian Development Bank indicate Mongolia’s growth will exceed seven percent for the fourth consecutive year. 

Overall, the Asian Development Bank expects total economic growth in Asia to rise to 8.3 percent. Previous predictions estimates growth in Asia at 7.6 percent. 

Leading the economic growth is China, which is expected to show an 11.2 percent growth in 2007.  

Growth in Hong Kong is predicted to be six percent this year. Bank officials also noted that South Korea is expected to grow at a rate of 4.6 percent in 2007, while Taiwan is expected to show a strong year, though no figure was given. 

The economies of only the South Asian region should grow at a rate of 8.1 percent. Earlier estimates had placed the region’s growth at 7.7 percent. 

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During the Stalinist purges of the 1930's almost every monastery in Mongolia was destroyed. In 1979 an atlas was published in Ulaanbaatar by Mr. Rinchen with an overview of more than 900 religious sites that used to exist in Mongolia. However a lot the information listed seems to be not accurate. A research has been initiated to get a better idea of all the buddhist buildings that once stood in Mongolia.
 

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