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The minimum monthly wage in Mongolia is 98 USD. With regard to consumer prices, the inflation rate in Mongolia is 8.2%. The currency of Mongolia is Mongolian togrog. There are several plural forms of the name 'Mongolian togrog'. These are tögrögs, tugriks. The symbol used for this currency is ₮, and it is abbreviated as MNT. The Mongolian togrog is divided into mongo; there are 100 in one togrog. Each year, consumers spend around $1,975 million. The ratio of consumer spending to GDP in Mongolia is 0.02%, and the ratio of consumer spending to the world consumer market is 0.57%. The corporate tax in Mongolia is set at 10%. VAT in Mongolia is 10%. In 2013, Mongolia received 448.7 million USD in foreign aid.In 2014, the foreign aid amounted to 350.6 USD.
Gross Domestic Product The total Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) in Mongolia is $34,869 billion. The Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) per capita in Mongolia was last recorded at $11,169,618. PPP in Mongolia is considered to be very good when compared to other countries. Very good PPP indicates that citizens in this country find it easy to purchase local goods. Local goods can include food, shleter, clothing, health care, personal care, essential furnishings, transportation and communication, laundry, and various types of insurance. Countries with very good PPP are safe locations for investments. The total Gross Domestic Product (GDP) in Mongolia is 11,516 billion. Based on this statistic, Mongolia is considered to have a medium economy. Countries with medium economies support an average number of industries and opportunities for investment. It should not be too difficult to find worthwhile investment opportunities in medium economies. The Gross Domestic Product (GDP) per capita in Mongolia was last recorded at $3,688,931. The average citizen in Mongolia has very high wealth. Countries with very high wealth per capita have an extended life expectancy and very high standard of living. Highly skilled workers can be found in many industries, and labor is very expensive in these countries. Countries with very high wealth offer opportunities for safe investments, as they are often supported by a diverse and thriving financial sector. GDP Annual Growth Rate in Mongolia averaged 9.1% in 2014. According to this percentage, Mongolia is currently experiencing significant growth. Countries that are experiencing significant growth offer the best chance for a substantial return on investment, as GDP growth rate is the most important indicator of economic health. As GDP grows, business, jobs, and personal income grow as well.
https://www.confiduss.com/en/jurisdictio...conomy/finance/
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