Minimum wage increases by quarterPolitics
Ulaanbaatar /MONTSAME/ Starting from January 1, the minimum wage has been raised by 25 percent to MNT 240,000.
The National Tripartite Committee on Regulation of Labor and Social Relations agreed on elevating the minimum monthly wage up to MNT 240,000 during its meeting of April 20, 2016, with a view to enable the increase of earned income of the citizens. On the other hand, cash fines, such as traffic tickets have been increased with this decision.
The last time, the minimum wage was designated at MNT 192,000 in 2013. The Confederation of Mongolian Trade Unions issued a demand to increase the minimum wage by 40 percent last year. However, the Mongolian Employers’ Federation has considered that the demand cannot be met due to current constraints on economic growth of Mongolia.