ULAN BATOR, Oct. 30 (Xinhua) -- The credit rating agency Standard & Poor's (S&P) has raised Mongolia's long-term foreign and local currency sovereign credit ratings to "BB-" from "B+" with a stable outlook, the Eagle News TV channel reported on Thursday, citing the agency's statement.
The stable outlook on the long-term sovereign rating reflects the agency's view that Mongolia will sustain robust economic expansion and keep fiscal deficits low over the next 12-24 months, S&P said.
According to the agency, Mongolia's real GDP will increase 5.5 percent this year, after growth of 5.1 percent in 2024. The growth momentum continued in the first half of 2025, with the economy expanding by 5.7 percent, supported by continued coal exports, a recovering agriculture sector, and steeply rising copper exports. Mongolia's copper exports benefited from higher production in the underground site of Oyu Tolgoi, one of the world's largest copper mines.
In mid-October, Moody's Ratings has upgraded the government of Mongolia's long-term issuer and senior unsecured ratings to B1 from B2 with a stable outlook.
Moody's has predicted that Mongolia's real GDP will edge higher to 5.5 percent this year, and hover around similar rates in 2026.
The country's GDP grew 5.6 percent in the first half of 2025, according to the National Statistics Office. ■
