In connection with the Government’s approval of the 300-day plan to accelerate economic recovery, Deputy Minister of Economy and Development Ts. Davaasüren provided information.
According to expectations for 2026, economic growth is projected at 6%, inflation at 6% ±2%, foreign trade turnover at USD 30 billion, and current budget expenditures not exceeding 24% of GDP. GDP per capita is expected to reach USD 7,900, and labor force participation is expected to increase significantly.
Deputy Minister Ts. Davaasüren stated:
“Over the past 14 years, dividends have never been distributed from preferred shares. Now, with the decision to bring deposits such as Borteeg and Olon Ovoot into operation, we have decided to distribute up to MNT 1 million per person in stages from accumulated profits, prioritizing senior citizens and persons with disabilities. A total of 1.8 million citizenswill benefit from this measure, including 1.3 million children under the age of 18, more than 400,000 senior citizens, and over 100,000 persons with disabilities.”
In addition, the Government meeting decided to increase all types of pensions paid from the Social Insurance Fund by MNT 80,000. As a result, the minimum pension has been raised to MNT 769,000. Furthermore, pensions and allowances for persons with disabilities and children with disabilities paid from the Social Welfare Fund will be increased by 20% to MNT 478,000. Other allowances will be increased by 8.6%. These pension increases will take effect from January 1.
To stabilize inflation, key measures will be implemented over the next 300 days in three main directions. Specifically:
First, domestic food supply will be improved, artificial price increases of essential consumer goods will be limited, and under the Atar campaign, measures will be taken to ensure that 100% of domestic demand for potatoes and vegetables is met through local production. Fuel storage capacity will be doubled. Pharmaceutical prices will be reduced by promoting competition in the medicines and medical supplies market, and enhanced oversight is included in the plan.
Within the framework of a temporary free trade agreement with the Eurasian Economic Union, Mongolia plans to exempt 367 types of goods from customs duties. Of these, 42 items are included in the consumer price basket used to calculate inflation. Importing these goods duty-free is expected to reduce inflation by 0.7 percentage points.
Average delays at border crossings, which previously took 302 hours, will be reduced to 72 hours, representing a 4.2-fold decrease, as reflected in the program.
Land allocation will be fully digitized. In addition, by receiving and resolving requests related to land ownership and land use rights electronically, 27 types of requests will be handled online. Whereas these procedures previously took 30–60 days, calculations show they can now be resolved within 1–5 working days.
Another key focus is business freedom. Measures will include limiting state involvement, allowing all business activities not prohibited by law to operate freely, protecting the inviolability of private property, prohibiting expropriation and forced social obligations, banning preferential treatment or discrimination toward specific companies, and implementing these principles consistently. Government policies will be implemented digitally, permits will be issued electronically, and the possibility of allowing foreign banking and financial institutions to enter the market will be studied.
Regarding revenue accumulation in the Sovereign Wealth Fund, attention will be given to determining the state ownership shares in deposits such as Tugrug Nuur, Tumurtei Ovoo, Borteeg, Olon Ovoot, Oyu Tolgoi, and derivative deposits of Erdenet. Measures are also included to repeal or annul 1,000 overlapping or legally excessive regulations.
Many companies, including the Mongolian Stock Exchange, State Bank, and the National Reinsurance Corporation, will be privatized or restructured.
Budget expenditures will be reduced. In the coming years, current budget expenditures will not exceed 24% of GDP. Expenses such as foreign travel and furniture purchases will be gradually reduced. In addition, cleaning services, electricity, and plumbing maintenance for government institutions will be outsourced to the private sector through contracts.
As a result, outcomes similar to this year are expected: 6% economic growth, inflation at 6% ±2%, foreign trade turnover of USD 30 billion, current budget expenditures below 24% of GDP, GDP per capita of USD 7,900, and a significant increase in labor force participation.
