Inflation

May 14, 2007 at 1:24 am Leave a comment

In 2004, inflation reached at 11 percent because of petroleum price increase in foreign economy, increase on fuel and lubricant price due to changes on customs tax, and decrease on live stock number because of harsh winters between 2000 and 2002 and meat supply. At the end of 2004, inflation reached 9,5 percent, decreased by 1,5 percent compared with previous year.

In 2005, price increase on meat and petroleum take place in inflation, mostly. Even though striating a monetary policy effected to keep inflation stable, inflation consists of supply inflation in 2005.

Government organized meetings by making parties participate to coordinate or regulate price increase on meat and petroleum; therefore, the GV made some resolutions to measure required/useful means. For instance: in 2006, there was a resolution that business entities, which prepare and purchase meat I order to make meat supply and price stable, will be encouraged by the GV.

In addition, a survey to decrease taxation on petroleum and make termination of tax longer to business entities which run on petroleum import sector, has been implementing.

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Entry filed under: Inflation.

Economic external environment Exchanges rate

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Information contained in this web site are partly derived from a CD-ROM "Guide to Investment and Trade-Mongolia", produced by Foreign Investment and Foreign Trade Agency (FIFTA). All trademarks are properties of their own respective owners.

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