Mongolia’s GDP grew 2.4% in annual terms during the first quarter of 2025, according to the national statistics office. Growth had been slowing in recent quarters, but this is a material drop from an average growth rate of 5.9% during the prior four quarters. Further, the statistics office has reported a substantial decline of banking sector foreign net assets in April, falling 50% compared to a year earlier, the equivalent of USD 1.37 bln. Net domestic assets rose 30% in annual terms, to USD 10.24 bln.