MNCCI: Entrepreneur’s profit expectations have halved from the previous year

The annual "Business Confidence Index Survey" conducted by the Mongolian National Chamber of Commerce and Industry (MNCCI) covering more than 1,800 businesses in the capital city and local areas on March 9-27, 2020. In terms of business activities, 31 percent of the respondents are in trade, 25 percent in services, 10 percent in construction, 9 percent in manufacturing, and 25 percent in agriculture, mining, transportation, tourism, information technology, and telecommunication sectors. According to the survey, the macroeconomic environment is expected to be poor in 2020, with inflation remaining unchanged and unemployment and poverty rising. The earning expectations of Entrepreneur’s for 2020 is 36 percent which is two times lower than the previous year’s 72 percent. And the investment expectation has dropped by 20 percent in comparison to the previous year. The main three issues in the business environment are the loan terms, corruption, and policy instability, are similar to last year's results.