ULAN BATOR: Mongolia's gross domestic product (GDP) per capita is projected to reach 6,800 US dollars in 2025, the country's Prime Minister Luvsannamsrai Oyun-Erdene has said.
Oyun-Erdene made the remarks while presenting the draft state budget 2025 during a parliamentary session on Friday, according to the government's press office, Xinhua news agency reported.
"After remaining stagnant at $4,000 for over a decade, Mongolia's per capita GDP surpassed $6,000 in 2023, driven by improvements in port access, the identification of hidden economy in the mineral sector, and growth in tourism. According to projected estimates, the per capita GDP of our country is expected to reach around $6,800 in 2025," he said.
Furthermore, the prime minister noted that if 14 mega projects are fully launched in 2026, there is a likelihood that per capita GDP could reach the milestone of $10,000 by 2028 for the Asian country