January 16, 2017
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Anniversary of the Constitution celebrated nationwide

Summary: Last Friday marked the 25th anniversary of the Constitution, which was celebrated nationwide. In 1992, the People’s Congress approved the Constitution after over 70 days of discussion. The Speaker of Parliament, Prime Minister, Members of Parliament, Cabinet members, and former members of the People’s Congress commemorated the anniversary with ceremonies at the Sukhbaatar and Chinggis Khan statues at Sukhbaatar Square. Speaker of Parliament M. Enkhbold noted that the over 900,000 individuals and over 700 organizations put forward 450,000 suggestions for the drafting of the Constitution, making it a collective work of the people.

Keywords: Constitution, democracy   Today /page A2/

Parliamentarians discuss amendments to the Constitution

Summary: The working group tasked with researching possible amendments to the Constitution met with former members of the People’s Congress, the governing body that approved the Constitution in 1992. During the meeting, the former legislators highlighted the importance of keeping the public informed and involved in the drafting of constitutional amendments. The People's Congress veterans suggested having upper and lower houses of Parliament, improving parliamentary governance, ensuring the independence of the courts, and to include an amendment that would allow Parliament to elect the President from within its ranks. The government’s 2016-2020 action plan includes researching amendments to the Constitution, and a working group was formed to carry out the action item by the order of Prime Minister J. Erdenebat.

Keywords: Constitution, legal reform, democracy    Daily News /page 5/


Some analysts predict zero growth for the Mongolian economy in 2017

Summary: A Forbes analyst wrote about the possibility of the Mongolian economy experiencing little or no growth in 2017. According to the analysis, “The International Monetary Fund forecasts growth in Mongolia of around 1%, less than half the rate of 2016 and the lowest of seven 'frontier' economies that it tracks in Asia. French investment bank Natixis expects zero growth this year.” Natixis has stated, “Mongolia has been enjoying rapid growth for the last few years on the back of strong Chinese demand and a commodity boom, which suddenly came to a stop in 2014 and quickly pushed the country into stagnant growth and sharply increased financial fragility.”

Keywords: economic growth, Forbes, IMF     Today /page B1/


Petro Matad stock price increases by 22% 

Summary: London Stock Exchange listed Petro Matad’ stock rose by 22%, reaching 13.88 GBX. reported last week that the company’s stock rose by an astonishing 70%. Shell is set to pay an exit amount of five million USD to Petro Matad for its farmout agreement. Shell’s affiliate company, BG Mongolian Holding Limited, paid 10 million USD back in August.

Keywords: Petro Matad   Today /page B1/

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Consumer price index growth at 1% at the end of 2016

Summary: Analysts report that the consumer price index experienced deflation in 2016, but slowly rose at the end of 2016. An economist at Bloomberg highlighted that the increase is lower than the Bank of Mongolia’s target of 2%, and is being calculated at 1% with the lowest growth set at 0.3%. As of November, the national consumer price index increased by 0.2%, proving the central bank’s reports of a 3-month deflation period to be seasonal. The Bank of Mongolia forecasts that the consumer price index will decrease by 1-2% in 2017.

Keywords: consumer price index, economy

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The American Chamber of Commerce in Mongolia · 8F Naiman Zovkhis Building 21 Seoul Street · Ulaanbaatar, 01 14251 · Mongolia