Economy
COAL EXPANSION AND GREEN POLICY
Mongolia is widely recognized as a major supplier of raw materials to the global market, particularly coking coal, copper, and cashmere. In fact, it can be said that these three sectors have firmly inscribed the name "Mongolia" onto the global value chain. Among them, coal deserves special attention. We are living in a time when we have reason to be grateful for our coal resources.
WILL MONGOLIA JOIN THE GLOBAL HIGH-TECH VALUE CHAIN THROUGH RARE EARTH ELEMENTS?
As the world approaches the twin turning points of the energy transition and the Fourth Industrial Revolution, rare earth elements (REEs) have evolved far beyond their place on the periodic table. They are now a strategic asset-often described as a technological "weapon" - shaping national security, industrial and technological competitiveness, and technological sovereignty.
THE KEY REASON FOR BUDGET ADJUSTMENT
From the outset, Mongolia's 2025 state budget has drawn criticism. Now, just six months later, the government has been forced to face economic reality. Under the leadership of the new administration - and particularly at the initiative of the Prime Minister - a decision has been made to revise the budget, signaling a possible shift in broader macroeconomic policy.
OECD UPGRADES MONGOLIA’S COUNTRY RISK CLASSIFICATION
The Organisation for Economic Co-operation and Development (OECD) upgraded Mongolia’s credit risk rating on June 27, 2025, during its latest review of Country Risk Classifications. The rating was raised from the highest-risk level of 7/7 to 6/7.
EBRD LOWERS MONGOLIA’S GROWTH FORECAST FOR 2025
The European Bank for Reconstruction and Development (EBRD) has revised its regional economic forecast for 2025 downward by 0.2 percentage points compared to its projections from February 2025.
Preliminary Estimates of Economic Risks
It is impossible to predict with certainty the changes that may unfold in the global economy in the second half of 2025, or whether the direction of Mongolia's economy situation worsen or improve. It is equally difficult to calculate how the U.S. President's tariff policy, which is putting pressure on our neighboring countries and key business partners, will impact Mongolia, particularly through our main export market, China.
Compensating for Coal Price Declines Through Increased Export Volumes
On September 17, the National Statistics Committee released social and economic data for the first eight months of 2024. The report indicated that exports from our country reached $10.6 billion, while imports totaled $7.5 billion. During this period, the foreign trade balance recorded a surplus of $3.1 billion, though this figure represents a decrease of $935.6 million compared to the same period last year.
THE NEW REGIONAL DEVELOPMENT POLICY CANNOT BE ALLOWED TO FAIL
The draft resolution on declaring the current year as the Year of Regional Development Support was discussed and approved at a regular Cabinet meeting on 27 December 2023. During the break in the 2023 autumn session of the Parliament, officials were instructed to organize meetings and discussions to explain policies and regulations on regional development to the public.
Entering the new year in better form after economic recovery in 2023
It is time to assess the changes and reforms in Mongolia’s economy Mongolia during 2023. The national economy grew by 6.4% in the first half of 2023, and activity improved further in the third quarter, with growth reaching 6.9%. This was mainly influenced by the recovery of the mining and transportation sectors, and growth is expected to continue until the end of the year, emphasized B. Lkhagvasuren, President of the Mongol Bank, presenting the decision made by the Monetary Policy Committee 2023.
Justifying the expanded budget for the election year 2024
The 2024 budget figures can be explained by the upcoming elections, but if you look at them carefully, the budget includes the inevitable increase in salaries, pensions, and allowances approved by law,” Finance Minister B. Javkhlan said.
THE MONTH WHEN GLOBAL INVESTORS FLOCKED TO MONGOLIA
The “Mongolian Economic Forum - 2023” was held in Ulaanbaatar on 9-10 July. The investment conference was attended by more than 500 guests and representatives, including heads of well-known international investment organizations, economists, experts, and journalists from foreign media. It was organized on the occasion of the Year of Visiting Mongolia, just before the national holiday Naadam, to promote Mongolia and its culture and heritage
HOW CAN WE ATTRACT GLOBAL MONEY TO MONGOLIA ?
Foreign direct investment in Mongolia peaked in 2011 but fallen precipitously since then. Since the approval of the revised Investment Law in 2013, foreign investment in Mongolia has virtually ceased, with
President of Mongolia Ukhnaa Khurelsukh worked at the logistics center in Zamyn-Uud soum of Dornogobi aimag
On February 14, the President of Mongolia, U. Khurelsukh worked in Zamyn-Uud soum of Dornogobi aimag. It is the main logistics center that handles about 70% of freight and 30% of passenger traffic across the state border and generates 15% of customs revenue. The expansion and modernization of Zamyn-Uud infrastructure is being carried out in cooperation with the People’s Republic of China.The construction of the logistics center’s buildings, facilities and infrastructure began in 2019, and are 91% complete.
