Salaries and pensions will rise by 30 percent from October 1. The tripartite negotiations between the Confederation of Mongolian Labor Unions, the Ministry for Social Welfare and Labor, and the Union of Employers decided on this after four prolonged sessions of talks.

Minister T.Gandi, Labor Union leader S.Ganbaatar, and the President of the Employers’ Union said they reached an agreement after considering the amount of money to be distributed from the Human Development Fund and the possible risks of price rise and inflation. A working group was established by the three sides to work on an indexed rise of salaries and pensions, and to organize a Labor Assembly in September.