As of July 2019, the money supply rose 17.9 percent, to MNT 20.3 trillion which is 0.3 percent or MNT 60.4 billion increase from the previous month. The main driver in the money supply rise was foreign exchange increase. In other words, the income of the exporting entities has grown. The daily turnover of banks fell by MNT 311.9 billion in the last seven months due to tax payments of large enterprises.

In terms of money supply, tugriks deposits accounted for 53.7 percent, domestic currency 15.5 percent, foreign currency 14.4 percent and foreign currency deposits 13.2 percent.

In the reporting period, banks issued loans of MNT 57.3 billion to 741 borrowers, of which 45.5 percent from the program and 54.5 percent from banks. The weighted average price of new mortgage loans decreased by 0.6 percent from the same period of last year.

23 percent of total loans are salaries loan, 16 percent for trade loans, 11 percent for real estate, and 9 percent for construction.
Growth in small and mediumsized businesses increased competition among banks. The gold purchase program has decreased by 2.2 tons compared to last year, due to the royalty fee.

The 11th annual Russian-Mongolian drills, the Selenga-2019, took place from Aug. 15-24 and involved 1,400 troops from both countries this year.

Online viewers were treated to videos of GRAD truck-mounted multiple rocket launchers shooting projectiles from various camera angles. Clouds of smoke lined the Mongolian steppe where the warheads landed.

Gunships were filmed flying over the estimated 10,000 guests and firing rockets at targets, while a mounted camera showed the action up close.

Drones filmed T-72B3 battle tanks shooting targets as they navigated the barren landscape in formation.

Selenga-2019 wrapped up with a military parade of the weapons tested during the exercises.

Previously, Mongolia and Russia signed a declaration for developing a strategic partnership between the two countries in 2009 when Russian Prime Minister Dmitry Medvedev visited Ulaanbaatar. Following this, Russia eased visa regulation for Mongolian passport holders to travel visa-free for 30 days when Mr. Vladimir Putin visited Ulaanbaatar in 2014.

Moscow and Ulaanbaatar established diplomatic relations by signing the Agreement on Establishment of Friendly Relations on November 5, 1921 between the People’s Government of Mongolia and the Government of the Soviet Russia. The two countries opened their respective embassies in Ulaanbaatar and Moscow in 1922.

At the meeting, the sides exchanged views on modernising the UB city public transport depot, implementing affordable housing projects and programme and constructing a facility to recycle construction-site waste. They also discussed preparations for planned projects and programmes.

To expand the bilateral partnership, Mayor S.Amarsaikhan put forward a proposal to implement a project on improving management of parking spaces and installing cameras on the streets and squares of the capital.

According to transport police, two women and man were killed by a Subaru Impreza, when the driver was turning at high speed to make the tyres lose traction and send their vehicle into a spin, while at the same time trying to maintain control.

Despite repeated warnings from the police to stop this “dangerous road sport” on both unsanctioned roads and vehicles – not to mention, bothering the local community, young people continue to attempt such stunts for thrills and to impress their peers.

As of seven months of the year, the sector accumulated MNT 1.7 trillion billion to the state budget as taxes, fees and royalties. MNT 22.2 billion has come from gold mining, MNT 788.7 billion--from coal, MNT 53.6 billion -- zinc, MNT 723.1 billion --copper, MNT 14.5 billion --iron, MNT 19 billion --fluorspar and MNT 41 billion from others.

Against the same period of the previous year, the income from major commodities increased by MNT 321.3 billion or 24 percent; incomes from coal extraction increased by MNT 230.4 billion (41.3 percent), copper--by MNT 97.9 billion (15.7 percent), iron—by MNT 5.1 billion (53.8 percent) and fluorspar --by MNT 9.3 billion (96.9 percent).

In Mongolia, a total of 8.15 million barrel or 1.1 million tons of oil is planned to be extracted and exported, with accumulation of MNT335.6 billion to the State Budget.

As of July 31, 4.04 million barrel or 554,957 tons of crude oil have been extracted and 3.87 million barrel or 525,300 tons of crude oil have been exported. It brought incomes worth MNT134.4 billion.

By August 27, Mongolia has a 39-day reserve of oil products reserve for domestic needs. According to first seven months of the year, Mongolia has imported 1.2 million tons of petroleum.

Also, there are registered 2889 exploration and mining licenses of mineral resources throughout the country.

The beetles have not been recorded in South Korea over the last three decades as crop production has emerged in place of livestock farming since 1970s.The dung beetles brought from Mongolia will be bred at an entomology center and released to the nature after full adaptation.

"A total of 900 China-Europe freight trains have travelled through the territory of Mongolia since the beginning of this year. The figure is expected to reach 1,300 by the end of the year," it said.

The China-Europe freight rail service network is a crucial part of China's Belt and Road Initiative.

"We are happy that the number of the China-Europe freight trains via Mongolia has been dramatically increasing year by year," said Tuvshintugs Battsetseg, deputy director of the Department of Foreign Trade and Economic Cooperation at the Ministry of Foreign Affairs of Mongolia.

"As the service expands, its contribution to the Mongolian economy has been increasing," the official said in an interview with Xinhua in February.

There were 556 China-Europe freight trains traveling through Mongolia in 2017 and the number reached 856 in 2018. Enditem

South Korea's KT Corp completed the sale of its 40% stake in Telecom Mongolia back to the Mongolian government, although the incumbent operator no longer holds a dominant share of the country’s market. Meanwhile, the Mongol Sat-1 platform was launched in partnership with Asia Broadcast Satellite (ABS).

The growing popularity of mobile broadband has underpinned overall broadband and telecoms growth. This trend is consolidating Mongolia's position as a mobile first telecoms market and shaping the future direction of Mongolia's developing digital economy.

The penetration of fixed lines in Mongolia has increased strongly over the past five years as a higher proportion of residences decide to take a fixed line access option. Penetration is however predicted to only increase slightly over the next five years to 2023.

Fixed broadband penetration in Mongolia remains low mainly due to a limited number of fixed lines and the dominance of the mobile platform. Fixed broadband remains an attractive proposition where it is available due to the inherent bandwidth advantages of fixed platforms compared with wireless.

Mongolia's mobile market has experienced fairly slow growth over the past five years in a relatively mature market. Slow to moderate growth is predicted over the next five years to 2023, with the market constrained from higher growth due to strong local competition and a further maturing market.

Mobile broadband penetration has grown very strongly over the past five years. With the launch of 4G LTE services by all the major operators, mobile broadband customers will continue to grow strongly over the next five years to 2023.

Mongolia and Russia have jointly organised many events including an air show, historical exhibitions and cultural performances for marking the anniversary.

Russian President Vladimir Putin will visit Mongolia on 3 September at the invitation of Kh.Battulga, President of Mongolia.