Mongolia’s economy is heavily dependent on mining and vulnerable to shocks. It experienced a rapid downturn in 2016 due to the declining commodity prices and decelerating growth in the People’s Republic of China, the country’s neighbor and largest trading partner. These and other factors precipitated a steady decline in gross domestic product growth, from 17.5% in 2011 to only 1% in 2016.
The Philippine Development Plan (PDP), 2011–2016 called for real gross domestic product (GDP) to grow by an average of 7%–8% per year, investment ratios to reach 22% by 2016, and a corresponding 17% reduction in extreme poverty. Recognizing the role played by investment in meeting the broader goals of inclusive economic growth and poverty reduction, the PDP targeted public infrastructure spend
Since the collapse of the Soviet Union, the Kyrgyz Republic has made significant progress in adopting market-based reforms, with private sector development as the key engine of growth. Nevertheless, growth has occurred largely from natural resource exploitation and remittances-backed private consumption.
Besides public sector jobs, the micro, small, and medium enterprise (MSME) sector is deemed crucial in ensuring women’s economic participation in Armenia. Notwithstanding this, women MSMEs comprised only 32% of the registered MSMEs in 2012. This low ratio was attributable to women’s lack of business skills, knowledge, confidence, and access to networks and credit.
Owing to economic and institutional reforms and sound macroeconomic policies, Georgia’s economy grew at an annual average of nearly 6% between 2004 and 2013. Reforms that strengthened public finances, improved business climate, fought corruption, liberalized trade, and upgraded infrastructure led to an impressive annual average growth of more than 9% between 2004 and 2008.