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AmCham Mongolia Daily Newswire

February 1, 2019

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MPP nominates G. Zandanshatar for Parliament Speaker
During a meeting of the board of the Mongolian People's Party held on Thursday, Prime Minister U. Khurelsukh nominated G. Zandanshatar, Head of the Cabinet Secretariat, to be the next Speaker of Parliament. MPs Ts. Nyamdorj and D. Oyunkhorol were also nominated. The board voted unanimously for G. Zandanshatar's nomination. G. Zandanshatar said that he would prioritize amending the Constitution, launching policies for government accountability, and making the distribution of state authority more effective. Parliament's Standing Committee on State Structure will review the board's decision today, and if its approved, the nomination of G. Zandanshatar will move on to the parliamentary review.

Daily News /page 2/
24.6 billion MNT to be spent on exploration projects in 2019
The Ministry of Mining and Heavy Industry led the ministry's regular Transparent and Responsible Mining meeting and reported on the sector's 2018 statistics. Total production in the sector reached 15.7 trillion MNT in 2018, 2.7 trillion MNT more than 2017, with 71.1 percent of the products coming from mining and exploration. Minerals export reached 7.1 billion USD in 2018, 1.1 billion USD more than 2017. The ministry says that 43 projects, valued at 24.6 billion MNT, will be financed in 2019.

Today /page C2/
NSO reports on prices of food staples in January 2019
The National Statistical Office released a report on the price of food staples in the first month of the new year. As of January 30, the average price of grocery staples rose by 5.3 percent compared to December 2018. The price of mutton price rose by 10 percent, beef by 8.4 percent, boneless beef by 12.2 percent, goat meat by 12.8 percent, and horse meat rose by 5.8 percent compared to the previous month. The price of flour rose by 1.3 percent, and the price of rice rose by 4.2 percent compared to the previous month.
The National Post /page 8/
IMF emphasizes Mongolia’s potential to tighten the economy
A working group from the International Monetary Fund (IMF), led by Geoff Gottlieb, visited Mongolia and discussed the IMF's sixth review of Mongolia's extended fund facility program enrollment. Gottlieb said that the sixth assessment will be submitted to the IMF’s Board of Directors for review. There were favorable external factors and trends in domestic demand, and that Mongolian economic growth exceeded six percent in 2018. The IMF working group emphasized that Mongolia has the potential to continue tightening the nation's monetary policy, as the Bank of Mongolia raised the monetary policy interest rate to 11 percent and placed limits on consumer loans.
REWIND: Week of January 28, 2019
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