ULAN BATOR, March 19 (Xinhua) -- Mongolia's external debt grew by 7.4 percent at the end of 2024, reaching 37.1 billion U.S. dollars, according to data released by the country's National Statistics Office on Wednesday.
The growth in external debt was caused by an increase in direct investment and intercompany loans by 14.4 percent, official data showed.
It is noted that nearly 46.5 percent of Mongolia's total external debt was built up from direct investments and intercompany loans, 21.2 percent from the government's debt and 7.2 percent from debts of other savings institutions, 2.9 percent from the country's Central Bank, and 22.2 percent from other sectors.
Meanwhile, World Bank experts predict that Mongolia's economy will grow by 6.5 percent in 2025 due to growth in the mining industry and increased domestic demand. ■
