July 27, 2018
S P O N S O R 

Civil servant salaries to be raised in Q4'18


An International Monetary Fund (IMF) delegation is working in Mongolia to conduct a 5th review of Mongolia’s extended fund facility (EFF) program. Cabinet and the IMF staff reached an initial agreement to raise salaries for civil servants in the fourth quarter of 2018. On July 26, Minister of Labor and Social Welfare S.Chinzorig reported that negotiations will continue on salary increases. The ministry hopes to keep salary increases in line with inflation as well as workloads and required skills for a specific type of jobs. Minister S.Chinzorig also stated, “The National Tripartite Committee on Labor and Social Consensus might soon decide on raising the minimum wage. The ministry presented a proposal to raise the minimum wage to 300,000 MNT in January 2019.”   

Keywords: Cabinet, Ministry of Labor, IMF    The Official Gazette /page 2/

More than 20,000 households to take part in the Refined Fuel Project


Cabinet issued a decree to completely ban the use of raw coal in Ulaanbaatar, starting in May 2019. State authorities, including the Ministry of Nature, Environment and Tourism and the Ministry of Energy, have been conducting research regarding future demand for refined fuel and supply levels, along with price stabilization. This September, the state plans to conduct a test run of the Refined Fuel Project with participation from more than 20,000 households residing in highly-polluted areas. 

Keywords: air pollution, Cabinet, refined coal   Today /page 1/


Bank of Mongolia reports on the banking sector's performance


On July 26, the Bank of Mongolia (BoM) reported on key economic and banking sector performance data. Director of the Supervision Department of the BoM N.Batsaikhan stated, “Since May, four commercial banks have increased their equity by a total of 128.7 billion MNT, when the BoM instructed commercial banks to do so.” In June, new mortgage loans equaled 82 billion MNT, bringing outstanding mortgage loans to 4.3 trillion MNT. There have been frequent complaints from consumers that commercial banks have not been issuing mortgage loans. The BoM reported that it is planning to carry out an inspection of mortgage loan procedures at commercial banks after the banks have finalized the improvement of their asset qualities.

Keywords: banking, central bank   Daily News /page 4/

online story  

Minister D. Tsogtbaatar meets with U.S. Congress members in Washington, D.C.


During his participation in the first Ministerial Meeting to Advance Religious Freedom in Washington, D.C., Minister of Foreign Affairs D.Tsogtbaatar met with U.S. Congresswoman and Co-Chair of the Congressional Mongolian Caucus Dina Titus, and Congressman Ted Yoho to discuss bilateral relations and to exchange views on cooperation. The members of Congress stated that they plan to submit the Mongolia Third Neighbor Policy Act to Congress soon. If adopted, Mongolian textile products would be exempt from export taxes.

Keywords: U.S., bilateral relations, foreign trade

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