Government to support central bank’s policy on maintaining foreign exchange reserves
The Cabinet discussed how the Russia-Ukraine crisis has been affecting Mongolia's economy at its regular meeting on March 23, reported Minister of Finance B.Javkhlan.
Air transport and sector coordination issues among the top obstacles for Mongolia’s tourism sector
With a unique value proposition to tourists, Mongolia’s tourism sector has substantial growth potential, but faces key constraints in air transport and sector coordination, according to the World Bank’s new study on Mongolia’s tourism sector.
Revenue from railway transport decreased by 25.3 percent
In the first 2 months of 2022, 3943.2 thousand tons of freight were carried by railway transport, showing a decrease of 1217.8 (23.6 percent) thousand tons compared to the same period of previous year.
Mortgage repayment deferral support extended
At its plenary session, the State Great Khural has extended the effective period of the Law on Prevention, Combat, and Reduction of Social and Economic Impacts of the COVID-19 until the end of December 31, 2022.
National currency in circulation reaches MNT 1.0 trillion
According to the National Statistics Office, the national currency in circulation reached MNT 1.0 trillion at the end of February 2022, decreased by MNT 138.6 billion (11.8 percent) from the previous month and increased by MNT 12.1 billion (1.2 percent) from the same period of the previous year.
Deposits in foreign currency decreased by 6.2 percent
The National Statistics Office reported that at the end of February 2022, the time deposit in domestic currency amounted to MNT 14.3 trillion.
Carried freight from air transport decreased by 32.0 percent
According to the National Statistics Office, in the first 2 months of 2022, 1.9 thousand tons of freight was carried by air transportation, which showed an increase of 1.4 (3.6 times) thousand tons compared to the same period of the previous year.
Mining and quarrying gross output drops by 36.1 percent
According to the National Statistics Office of Mongolia, in the first 2 months of 2022, the gross industry al output reached MNT 2.3 trillion, decreased by MNT 729.2 billion (24.2 percent) from the previous year. This decrease was mainly due to MNT 784.3 billion (36.1 percent) decrease in mining and quarrying gross output.
Pre-forum discussion takes place on ‘Revival of Energy’
Starting from this week, a series of meetings are being organized in preparation for the Mongolian Economic Forum-2022. The forum is planned to take place on April 7-8.
Inflation reaches 14.2 percent in February, 2022
In February 2022, consumer price index at the national level increased by 1.1 percent from the previous month, by 3.1 percent from the end of the previous year and by 14.2 percent from the same period of the previous year.
Ambassador to Singapore meets Singapore Business Federation CEO
On March 15, 2022, Ambassador of Mongolia to the Republic of Singapore H.E. Mr.Sosorbaram Enkhbayar met with Mr. Lam Yi Yong, Chief Executive Officer of the Singapore Business Federation (SBF).
Mongolia trades with 123 countries
In the first 2 months of 2022, Mongolia traded with 123 countries from all over the world, and the total trade turnover reached USD 2.2 billion, of which USD 1.2 billion were exports and USD 1.0 billion were imports.
Discussion takes place on financing of foreign trade and exports
By making public services available digitally, the quality of services being provided for entities will improve.
Tax revenue increased by 66.2 percent compared to the same period of previous year
According to the National Statistics Office of Mongolia, in the first 2 months of 2022, the total revenue of the general government budget was MNT 2.6 trillion,
76 million pieces of securities traded at national stock market in the first two months of this year
In the first two months of 2022, 76.0 million pieces of securities worth MNT81.5 trillion were traded at the national stock market, increased by MNT39.6 (94.6 percent) while it is decreased 101.8 million pieces of securities (57.2 percent) compared to the same period of the previous year.
Median wage reaches MNT1068.1 thousand
The average wages and salaries is calculated from the report of the General Authority for Social Insurance. According to this report, 719.3 thousand employees were working in 46.3 thousand enterprises in the fourth quarter of 2021.
ADB proposes cooperation in border port infrastructure improvement and economic diversification
Deputy Minister of Economy and Development S. Narantsogt received a delegation of ADB led by Teresa Kho, Director General of ADB’s East Asia Department, on March 15.
Subsidy of MNT 100,000 to be provided for each ton of domestically grown vegetables
During today’s regular meeting of the Cabinet, a resolution to support vegetable production was approved.
Opening the Path Towards Sustainable Food Systems in Mongolia
The COVID19 Pandemic has resulted in many unintended consequences; one being the glaring holes in our global supply chains, particularly in the food and beverage sector.