Civil servants salaries to be increased next yearEconomy
Ulaanbaatar /MONTSAME/ An International Monetary Fund's working group evaluated the implementation progress of the IMF's Extended Fund Facility in Mongolia for the third time.
After ten-day negotiations several issues have been approved by IMF. One of these decisions was civil servants’ indexed salary increment. The IMF agreed salary increment of 192 thousand civil servants, even though it has recommended reducing budget expenditures and budget cuts as much as possible.
However, wages will be increased in accordance with inflation rate. In December last year, inflation was 6.4 percent, and the central bank of Mongolia has pledged to hold an inflation rate at 8 percent this year.