1 PRIME MINISTER OYUN-ERDENE VISITS EGIIN GOL HYDROPOWER PLANT PROJECT SITE WWW.MONTSAME.MN PUBLISHED:2025/04/30      2 ‘I FELT CAUGHT BETWEEN CULTURES’: MONGOLIAN MUSICIAN ENJI ON HER BEGUILING, BORDER-CROSSING MUSIC WWW.THEGUARDIAN.COM PUBLISHED:2025/04/30      3 POWER OF SIBERIA 2: ECONOMIC OPPORTUNITY OR GEOPOLITICAL RISK FOR MONGOLIA? WWW.THEDIPLOMAT.COM PUBLISHED:2025/04/29      4 UNITED AIRLINES TO LAUNCH FLIGHTS TO MONGOLIA IN MAY WWW.MONTSAME.MN PUBLISHED:2025/04/29      5 SIGNATURE OF OIL SALES AGREEMENT FOR BLOCK XX PRODUCTION WWW.RESEARCH-TREE.COM  PUBLISHED:2025/04/29      6 MONGOLIA ISSUES E-VISAS TO 11,575 FOREIGNERS IN Q1 WWW.XINHUANET.COM PUBLISHED:2025/04/29      7 KOREA AN IDEAL PARTNER TO HELP MONGOLIA GROW, SEOUL'S ENVOY SAYS WWW.KOREAJOONGANGDAILY.JOINS.COM  PUBLISHED:2025/04/29      8 MONGOLIA TO HOST THE 30TH ANNUAL GENERAL MEETING OF ASIA SECURITIES FORUM WWW.MONTSAME.MN PUBLISHED:2025/04/29      9 BAGAKHANGAI-KHUSHIG VALLEY RAILWAY PROJECT LAUNCHES WWW.UBPOST.MN PUBLISHED:2025/04/29      10 THE MONGOLIAN BUSINESS ENVIRONMENT AND FDI: CHALLENGES AND OPPORTUNITY WWW.MELVILLEDALAI.COM  PUBLISHED:2025/04/28      849 ТЭРБУМЫН ӨРТӨГТЭЙ "ГАШУУНСУХАЙТ-ГАНЦМОД" БООМТЫН ТЭЗҮ-Д ТУРШЛАГАГҮЙ, МОНГОЛ 2 КОМПАНИ ҮНИЙН САНАЛ ИРҮҮЛЭВ WWW.EGUUR.MN НИЙТЭЛСЭН:2025/04/30     ХУУЛЬ БУСААР АШИГЛАЖ БАЙСАН "БОГД УУЛ" СУВИЛЛЫГ НИЙСЛЭЛ ӨМЧЛӨЛДӨӨ БУЦААВ WWW.NEWS.MN НИЙТЭЛСЭН:2025/04/30     МЕТРО БАРИХ ТӨСЛИЙГ ГҮЙЦЭТГЭХЭЭР САНАЛАА ӨГСӨН МОНГОЛЫН ГУРВАН КОМПАНИ WWW.EAGLE.MN НИЙТЭЛСЭН:2025/04/30     "UPC RENEWABLES" КОМПАНИТАЙ ХАМТРАН 2400 МВТ-ЫН ХҮЧИН ЧАДАЛТАЙ САЛХИН ЦАХИЛГААН СТАНЦ БАРИХААР БОЛОВ WWW.EAGLE.MN НИЙТЭЛСЭН:2025/04/30     ОРОСЫН МОНГОЛ УЛС ДАХЬ ТОМООХОН ТӨСЛҮҮД ДЭЭР “ГАР БАРИХ” СОНИРХОЛ БА АМБИЦ WWW.EGUUR.MN НИЙТЭЛСЭН:2025/04/30     МОНГОЛ, АНУ-ЫН ХООРОНД ТАВДУГААР САРЫН 1-НЭЭС НИСЛЭГ ҮЙЛДЭНЭ WWW.MONTSAME.MN НИЙТЭЛСЭН:2025/04/29     ЕРӨНХИЙ САЙД Л.ОЮУН-ЭРДЭНЭ ЭГИЙН ГОЛЫН УЦС-ЫН ТӨСЛИЙН ТАЛБАЙД АЖИЛЛАЖ БАЙНА WWW.MONTSAME.MN НИЙТЭЛСЭН:2025/04/29     Ц.ТОД-ЭРДЭНЭ: БИЧИГТ БООМТЫН ЕРӨНХИЙ ТӨЛӨВЛӨГӨӨ БАТЛАГДВАЛ БУСАД БҮТЭЭН БАЙГУУЛАЛТЫН АЖЛУУД ЭХЛЭХ БОЛОМЖ БҮРДЭНЭ WWW.MONTSAME.MN НИЙТЭЛСЭН:2025/04/29     MCS-ИЙН ХОЁР ДАХЬ “УХАА ХУДАГ”: БНХАУ, АВСТРАЛИТАЙ ХАМТРАН ЭЗЭМШДЭГ БАРУУН НАРАНГИЙН ХАЙГУУЛЫГ УЛСЫН ТӨСВӨӨР ХИЙЖЭЭ WWW.EGUUR.MN НИЙТЭЛСЭН:2025/04/29     АМ.ДОЛЛАРЫН ХАНШ ТОГТВОРЖИЖ 3595 ТӨГРӨГ БАЙНА WWW.EGUUR.MN НИЙТЭЛСЭН:2025/04/29    

Events

Name organizer Where
MBCC “Doing Business with Mongolia seminar and Christmas Receptiom” Dec 10. 2024 London UK MBCCI London UK Goodman LLC

NEWS

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The MongolZ Becomes the National Team of Mongolia www.montsame.mn

The MongolZ has officially become the National Team of Mongolia, allowing the Government of Mongolia to fully support the team and further develop esports in the country.
In recent years, The MongolZ has broken all Asian records in Counter-Strike 2 and is currently ranked 3rd in the world. The team is set to compete in the ESL Pro League Season 21 and other top-tier tournaments in Sweden, Denmark, the USA, Australia, Romania, and other countries.
Esports was introduced as a medal event in four categories at the 19th Asian Games Hangzhou 2022, held in Hangzhou, China, in 2023. At the 20th Asian Games Aichi-Nagoya 2026, to be held in Japan in 2026, the program will expand to include eight esports disciplines.

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UK-Mongolia Political Dialogue - Joint Statement www.gov.uk

Minister for the Indo-Pacific Catherine West, welcomed Mongolian Deputy Prime Minister Amarsaikhan Sainbuyan to London for the 15th UK-Mongolia roundtable.
Joint Statement
British Parliamentary Under-Secretary of State for the Indo-Pacific, Minister Catherine West MP, welcomed Mongolian Deputy Prime Minister Amarsaikhan Sainbuyan to London on 26 February 2025 for the 15th UK-Mongolia roundtable, and the first annual political dialogue under the UK-Mongolia Joint Cooperation Roadmap towards a Comprehensive Partnership.
Minister West and DPM Amarsaikhan affirmed the strong partnership between the UK and Mongolia, grounded in shared democratic values, open societies, and a growing economic relationship.
Both sides noted deepening geopolitical tensions, stressed their commitment to upholding the principles of the UN Charter, and called on all countries to refrain from using force against the territorial integrity and political independence of any state. They agreed to continue to work closely to uphold international law and advance our shared principles.
Economic Growth
The Ministers confirmed that the UK and Mongolia will work together with a view to increasing the volume of trade and investment between the two countries – to drive mutual economic growth
They agreed to continue discussions with UK Export Finance to explore support for the construction of the metro system in Ulaanbaatar.
Talks also focused on facilitating trade and investment by working towards the removal of barriers to trade and red tape, and creating stable and transparent business environments.
Energy Transition
The Ministers stressed the urgency of action to address the impacts of climate change. They committed to achieving the UK and Mongolia’s NDC and welcomed the recent allocation from the NDC Partnership to Mongolia, including funding from the UK, to reach Mongolia’s climate goals.
They encouraged greater public-private partnerships to leverage public finance for private sector investment in line with both countries’ climate strategies.
They looked forward to Mongolia hosting COP17 on Desertification in 2026 and agreed to facilitate an exchange of experts to support preparations for and the outcome of COP17.
Women’s empowerment
The Ministers reaffirmed both countries’ commitment to gender equality and to expanding the number of women elected to both parliaments. Minister West welcomed the expanded number of female parliamentarians in the Mongolian parliament following elections in 2024, and commended Mongolia for its quota target of 40% of female candidates by 2028. DPM Amarsaikhan welcomed the UK achieving its highest level of female representation in the UK parliament following the 2024 UK general election.
The Ministers agreed to work together in multilateral fora ahead of the 30th anniversary of the “Beijing Declaration and Platform Action”.
Critical minerals
The Ministers agreed on the importance of extracting Mongolia’s mineral wealth in a manner that preserves Mongolia’s unique environmental legacy. They discussed the importance of responsible mining, and of high environmental, social and governance standards, as well as investing in Mongolian’s skills development.
In this regard, both sides expressed their commitment to cooperate within the framework of Memorandum of Understanding on critical minerals.
Education, Civil Society and People-to-people ties
The Ministers noted the strength of people-to-people ties between the UK and Mongolia, including the exchange of students through the Chevening Scholarship programme and “Mission 2100” scholarship programme initiated by the President of Mongolia.
Minister West reaffirmed the UK’s support for English language teaching in Mongolia and both ministers welcomed the progress in expanding English language provision. This could include building on existing partnerships with British companies to increase access to and improve the quality of English Language teaching, as well as supporting remote and disadvantaged communities with UK Overseas Development Assistance.
The Ministers agreed to explore possibilities to expand higher education opportunities for Mongolian students, including through the Chevening Scholarship, and to expand partnerships between universities.
They looked forward to the exhibition of the Arts of the Mongol World to be held at the Royal Academy in 2027, and welcomed expanding cultural cooperation.
They noted the important contribution that civil society organisations play in democratic societies, and committed to continue to engage with and seek inputs from civil society organisations representing a broad range of communities to strengthen democratic debate.
Minister West and DPM Amarsaikhan looked forward to and highlighted the importance of future high-level visits between the UK and Mongolia.
On the sidelines of the roundtable meeting, DPM Amarsaikhan held a bilateral meeting with Minister Gareth Thomas. During the meeting, the Ministers held constructive and fruitful discussions on further broadening the bilateral relationship in areas of mutual interest, including the promotion of trade and economic cooperation.
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Towards a Renewable Hydrogen Strategy for Mongolia (report) www.oecd.org

Thanks to its very high levels of solar irradiation and wind-power generation capacity, Mongolia has attracted interest from the private sector as a potential location to develop renewable hydrogen pilot projects. At the same time, the government has included the development of hydrogen production as an element of the energy pillar of its New Recovery Policy. Drawing on OECD experience and expertise in renewable hydrogen development and financing, this report aims at helping the government of Mongolia develop a vision for the potential role of this technology in its domestic agenda for decarbonising the economy. It identifies policy reforms and measures that will be needed to support such development.
While the competitiveness of any domestic industrial production requiring large economies of scale – such as renewable hydrogen – will depend on Mongolia’s ability to export such production, given the small size of its domestic markets, the existence of domestic demand for this technology will be critical to the success of a future national renewable hydrogen strategy . This is because early-stage development typically requires domestic offtake contracts, while the infrastructure needed for export will take years to develop. Mongolian industry remains in a very early stage of its own low-carbon transition. Within the industrial and investment policy framework, further and better incentives are needed to encourage firm-level investments in technology and infrastructure that can align future industrial output with emissions reduction objectives. Moreover, policy interventions will be required to foster technology transfer and innovation, while aligning on emerging international standards for the safe and sustainable production and trade of renewable hydrogen. Finally, de-risking investment and ensuring environmental sustainability will require the authorities to address the question of sustainable water usage for renewable hydrogen production . Beyond providing directions for a future national renewable hydrogen strategy, many of the recommendations provided in this report can help Mongolia align its investment and innovation policy frameworks with low-carbon development objectives which, in turn, is critical if the country is to reach its climate and economic goals.
 
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Courtesy Call on Prime Minister ISHIBA by H.E. Ms. Batmunkh BATTSETSEG, Minister for Foreign Affairs of Mongolia www.mofa.go.jp

On March 3, commencing at 6 p.m. Prime Minister ISHIBA Shigeru, received a courtesy call from H.E. Ms. Batmunkh BATTSETSEG, Minister for Foreign Affairs of Mongolia, during her visit to Japan as a guest of the Ministry of Foreign Affairs. The overview is as follows.
Prime Minister Ishiba stated that Mongolia is a “special strategic partner” with which Japan shares fundamental values and that he welcomed Foreign Minister BATTSETSEG's visit to Japan. Prime Minister Ishiba also expressed his intention to continue supporting Mongolia and further strengthen Japan-Mongolia relationships. While expressing gratitude for Japan's consistent support for Mongolia since the country's democratization in 1990, Minister BATTSETSEG stated that she would like to continue to work closely together to further deepen the relationships with Japan, which is the third neighboring country. Both sides also confirmed that they share a recognition of the important significance of the visit by Their Majesties the Emperor and Empress of Japan and would coordinate closely.
In addition, Prime Minister ISHIBA once again requested Mongolia's understanding and cooperation on the abductions issue and gained her support.
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Mongolians celebrate the Jubilee of Hope www.vaticannews.va

Cardinal Giorgio Marengo, Apostolic Prefect of Ulaanbaatar, Mongolia, shares how the central focus of Jubilee activities emphasizes formation and sharing with celebrations involving everyone.
On a day of intense cold, with temperatures plunging to 30 degrees celsius below zero, the extraordinary participation of the people warms the heart—and the soul.
On 29 December 2024, in Ulaanbaatar, the capital of Mongolia, the 2025 Jubilee opened with a solemn celebration that, even here in the farthest reaches of the world, could not be missed or overlooked.
The memory of that day remains vivid in the mind of Cardinal Giorgio Marengo, the Apostolic Prefect of this tiny Church community, which numbers around 1,600 baptized individuals out of a population of 3.2 million spread across a territory of more than 1.5 million square kilometers.
A grand procession
His detailed recollection, shared in an interview with Vatican News, helps reconstruct that day, which began with a grand procession that started outside the Cathedral dedicated to Saints Peter and Paul, the seat of the apostolic prefecture.
"We began from the great cross that was used during the papal Mass during Pope Francis' Apostolic Visit in September 2023," he said. "After praying part of the Rosary outside, we solemnly entered the Cathedral, looking towards the other crucifix that stands above our altar, to which we directed our gaze and our prayers. It was a very intense celebration that allowed our people to feel in communion with the universal Church."
The Word of God and formation
The celebration marked a culmination in preparations by the faithful of the Ulaanbaatar Apostolic Prefecture. There have been many opportunities for formation and in-depth reflection, one of which best encapsulated the need to exercise hope, the central theme of the Holy Year.
"It was the experience of communion and animation with Gen Rosso, the international group of artists who came to visit us between the end of November and the beginning of December. Together, we prepared workshops and a concert. The common thread of these activities was the concept we called 'hoping together,' which was also the theme of the papal visit nearly two years ago."
Preparing well for the Jubilee also meant rediscovering the history of a local Church that has roots in an ancient Christianity but, in contemporary times, boasts only thirty-three years of existence.
"This too has been an exercise in hope, wanting to accept the Jubilee invitation to look to the future with eyes full of faith, never discouraged," he said.
Renewal and rebirth
During the Holy Year, the formation of the faithful will be a constant focus of activities. Information and catechesis will be made available to everyone so that the deep meaning of the grace of the Jubilee can truly be appreciated.
"In this regard, we are also thinking about a pamphlet with explanations on how to obtain an indulgence, which will highlight the true meaning of the conversion journey that we are all trying to undertake here. A renewal that must start from the continual purification of our hearts."
What Cardinal Marengo values most in this context of faith is the dimension of charity, an essential condition for receiving the Jubilee grace.
"The works of mercy, offering our struggles and sufferings to the Lord, are not insignificant. Nor are the sacrifices that everyone can make to participate in our formation meetings, like the pastoral week we will have in May," he said.
Parish pilgrimages
Although it will be difficult, almost impossible, for the faithful from Mongolia to journey to Rome on pilgrimage—not only due to the vast distance but also because of the high travel costs—the Apostolic Prefect explains that "the graces of the Jubilee reach us where we are and are manifested in initiatives that relate to everyday life: prayer, caring for others, multiplying mercy as a concrete way to exercise hope."
But beyond the pilgrimage that the faithful can make to the Ulaanbaatar Cathedral, there is another that is especially close to the Cardinal's heart: one aimed particularly at young people, which will take place in the nine parishes of the Prefecture.
"Five of them are in the capital, four are spread across the country. We realized that, in many cases, the faithful of one parish don't know the other communities well. So we thought that, when the good weather comes, we could organize mutual visits."
And since the distance between one parish and another can be hundreds of kilometers, Cardinal Marengo has thought of a "Jubilee passport," especially for young people.
"It will be a sort of identity card with personal data that can be stamped each time someone visits a parish. I believe this is a really beautiful way to thank the Lord for the gift of these communities scattered across such a vast territory."
The gaze of Mary
In Ulaanbaatar, the Jubilee is unfolding under the loving gaze of the Mother of Heaven, a title Pope Francis gave to the statue of Mary, which was miraculously found a few years ago in a northern city's landfill by a non-Catholic woman and then enshrined in the Cathedral.
"This is why the Cathedral is increasingly playing a fundamental spiritual role for the faithful, who can go before this small wooden statue and entrust their lives to the Virgin Mary."
By Federico Piana

 

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Ban or Regulate? Mongolia’s Sports Betting Dilemma www.mongoliaweekly.org

Mongolia's government has launched a forceful campaign against online gambling and sports betting platforms, targeting the ubiquitous 1xbet. While cracking down on illegal operations and the alleged $500 million annual outflow is understandable, the move raises a fundamental question: Is prohibition the most effective long-term strategy? Or is it a costly, and ultimately futile, game of whack-a-mole?
The immediate actions – blocking websites, pressuring Meta to remove accounts, and contemplating a total ban on betting – are presented as a response to the "epidemic" of online gambling addiction and its devastating social consequences. These are genuine concerns.
The government is right to address the financial ruin and social disruption caused by problem gambling and sports betting.
However, Cabinet Secretary Nyam-Osoryn Uchral has also highlighted a critical economic dimension: the massive outflow of funds represents significant lost tax revenue.
This dual threat – social harm and economic damage – strengthens the argument for a regulated, rather than prohibited, gambling market. Experience globally demonstrates that outright bans rarely eradicate online activity. Determined users and operators find workarounds, such as VPN usage. 
The activity persists, driven underground or offshore, making it more difficult to monitor, control, and tax. 1xbet's continued presence in Mongolia, despite a previous Communications Regulatory Commission blacklist, is a stark reminder.

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Golden statue of Chinggis Khaan installed in Mongolia www.akipress.com

The opening ceremony of the Chinggis Khaan's Royal Chamberand the installation of his 7-meter golden statue took place at the Chinggis Khan National Museum in Ulaanbaatar.
The sketch and modeling of the statue took two years. They were approved at the end of 2022, embodying the ideas of historians, researchers and scientists.
The details of the monument were based on the artifacts of the khans and nobility of the Mongol Empire and other periods.
President Khurelsukh Ukhnaa emphasized in his speech that Chinggis Khaan is not just a historical figure, but a source of pride for all Mongols.

 

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China could restart import controls on coal as oversupply mounts www.bloomberg.com

China could reestablish import controls on coal, after leading industry groups warned on mounting oversupply in the world’s biggest market for the fuel, according to Morgan Stanley.
The bank said a complete ban is unlikely given China’s obligations to the World Trade Organization, but purchases could be discouraged if the authorities impose delays or inspections on imports, analysts including Sara Chan said in a note. Similar controls were imposed in 2014, 2017 and 2018.
China maintained a cap on coal imports of about 300 million tons until 2022, but has blown past that level in the last couple of years due to energy security concerns. The country bought a record 543 million tons last year.
Now, demand is falling well short of expectations, resulting in a rapid decline in prices and a continuous drop in mine profitability, the China Coal Transportation and Distribution Association and the China National Coal Association said on Friday. To cope with persistently high inventories of the fuel, miners should control output and importers should curb shipments of lower quality fuel, it said.
Beijing has prioritized coal production in recent years to avoid a repeat of the power crunch experienced in 2021, with Russia’s invasion of Ukraine in 2022 reinforcing the strategy. The policy has been successful in ensuring energy security but has come at the expense of progress on decarbonization and has led to a spate of fatal accidents at mines.
Surging output and tepid demand have weighed on the market in recent months. The country’s benchmark for thermal coal prices has dropped to 699 yuan a ton, its lowest level since March 2021, according to China Coal Resource.
Spot prices may soon test the market floor set by government-regulated annual contracts of 675 yuan a ton, local trading platform ocoal.com said in a note.
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Mongolia keeps mining for growth amid economic uncertainty www.eastasiaforum.org

Despite global uncertainty, Mongolia's new government is working to maintain economic growth which is fuelled by strong export performance and fiscal expansion. But structural challenges such as the severe contraction of the agricultural sector due to harsh weather conditions, potential disruptions resulting from factors such as petroleum supply from Russia, a slowing Chinese economy and increased budget spending could test the country's resilience.
Following Mongolia’s 2024 election, a new government faces the challenge of sustaining economic growth amid rising global uncertainty. Strong export performance and fiscal expansion fuel optimism, but structural challenges may test the country’s resilience.
The Mongolian economy is continuing its recovery from COVID-19-related slowdown. Economic growth was 4.9 per cent in 2024, which is significantly lower than the 7.4 per cent growth in 2023 and the average growth rate of 6.4 per cent over the past 18 years. The industrial sector grew by 5 per cent, with the mining sector expanding by 5.7 per cent.
But the agricultural sector, which accounted for around 10 per cent of GDP, contracted by 25 per cent in the first three quarters of 2024. This decline is attributed to severe winter and spring weather conditions, known as the ‘Dzud’, which led to the loss of 8.1 million animals — 12.5 per cent of total livestock.
Total exports increased moderately by 3.9 per cent compared to the previous year, reaching US$15.8 billion, while imports rose sharply by 25.5 per cent to reach US$11.6 billion, both marking historical highs.
Export growth was primarily driven by a significant increase in copper exports. The volume of copper exports reached a record 1.7 million tons, up 11.1 per cent from the previous year, while the average border price of copper increased by US$236 per ton, boosting the value of copper exports by 26 per cent. Though coal export volume grew by over 20 per cent to a historic high of 83.7 million tons in 2024, the price of coal fell by US$25.4 per ton, leading to a 2.3 per cent decline in the value of coal exports.
Economic growth in 2024 was fuelled by significant expansion on the demand side. With relatively favourable conditions for commodity exports and a positive outlook of the near future, the state budget revenue and grants increased by 28.7 per cent from 2023, reaching a historic high of 31.4 trillion Mongolian togrog (US$9.1 billion). Budget expenditure expanded by 34.9 per cent, reaching another historic high of 30.4 trillion Mongolian togrog (US$8.8 billion). Private consumption and investment also rose by 27.8 per cent and 26.8 per cent respectively in the first three quarters of 2024.
Inflation remained within the central bank’s target range, averaging 6.6 per cent in 2024. This was despite ongoing uncertainties in the external environment, capacity constraints in energy, transport and logistics sectors, significant demand-side expansion and negative supply shocks in animal husbandry.
The labour force participation rate continued its steady rise, reaching 63 per cent in the third quarter of 2024, while the unemployment rate rose to 6.1 per cent.
The rise in exports also improved the country’s foreign exchange reserves, which registered a record high of US$5.5 billion. This milestone is especially significant considering the Bank of Mongolia made payments of around US$1.1 billion in foreign debt. The togrog remained relatively stable against the US dollar throughout 2024.
The government’s debt management strategy for 2023–25 stipulates that new foreign securities will be issued solely for the purpose of refinancing existing debt. Following implementation, as well as abovementioned positive changes in the economy, the government’s sovereign bond spread reached the lowest in history — 2.3 per cent — in 2024. As a result, credit rating agencies S&P Global and Fitch Ratings upgraded the country’s credit rating to B+ and B2 respectively, marking the highest rating in the past decade.
Mongolia saw the formation of its first 126-member parliament following the 2024 parliamentary election. The election — based on a mixed electoral system — led to five parties winning seats, with 78 members elected from constituencies and 48 from party lists. Notably, 25 per cent were women — the highest level of female participation in recent generations.
Though the Mongolian People’s Party won the majority of seats, it formed a coalition government with the Democratic Party and the HUN Party, giving it a 94 per cent supermajority. The current coalition government is aiming to implement 14 mega-projects in the next four years, having endorsed linking the railway border connection with China — which should boost coal export revenue by 2.8 times — and uranium mining in collaboration with the French ‘Orano’ group.
The new parliament finally adopted the Law on the Sovereign Wealth Fund after many years of deliberation. The fund is composed of three sub-funds, designed to accumulate wealth, finance large state investments and support social measures. Budget discussions were notably intense, resulting in the adoption of a zero-deficit budget for 2025.
But the Fiscal Stability Law, which has been in effect since 2013, was amended to remove the upper limit on the overall budget deficit, replacing it with a lower limit on the primary balance surplus. The long-term impact of this change has not been fully assessed, nor has its potential to ensure fiscal stability.
Looking ahead to 2025, factors such as disruptions in petroleum supply from Russia, a slowdown in Chinese economy, expanding budget spending, spiralling wage increase, surges in electricity and heat prices and the continued impact of the Dzud will continue to put pressure on inflation and economic growth.
By: Tuvshintugs Batdelger is the Director at the Economic Research Institute, Mongolia and Professor at the National University of Mongolia.
Nomun Enkhbold is a Researcher at the Economic Research Institute, Mongolia
This article is part of an EAF special feature series on 2024 in review and the year ahead.
https://doi.org/10.59425/eabc.1740780000
 
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Statement by Secretary Marco Rubio on On Mongolian Tsagaan Sar www.mn.usembassy.gov

To all those celebrating Tsagaan Sar in Mongolia, the United States, and around the world, we hope the new year will bring greater security, strength, and prosperity for all.  
The United States is proud to be Mongolia’s Strategic Third Neighbor and democratic partner. We look forward to deepening the relationship between our two countries in the coming year.

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