Mongolia will introduce a tax-free system from January 2024, exempting foreign citizens from value-added tax. The move is part of the country’s efforts to promote tourism. To claim tax refund, foreign citizens will need to register in the E-Mongolia mobile

Construction of the Mongolian portion of Russia’s planned new Power of Siberia-2 gas pipeline to China may start in the first quarter or first half of 2024, TASS news agency quoted Russian Deputy Prime Minister Viktoria Abramchenko.

Russia wants to increase

The downward pressure on the global economy and increasingly complex external environment this year brought more attention of the international community including Mongolia to the Chinese economy. Some Western media have been hyping up “overcapacity”, “debt crisis” and “foreign capital

The International Monetary Fund (IMF) is forecasting 2023 GDP growth for Mongolia of 5.5%, following on from last year’s 5.0%.

Mongolia will likely see a 4.5% GDP expansion in 2024, the Fund added in its newly published World Economic Outlook (WEO) October

The Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation with Mongolia on Thursday, September 14, 2023, considered and endorsed the staff appraisal without a meeting.

Growth rebounded to 5.0 percent in 2022 and the external position stabilized

Mongolia’s foreign exchange  reserves have exceeded USD 4 billion again, said Minister of Economy and Development Ch.Khurelbaatar.

The country’s forex reserves stood at USD 4.124 billionat the end of September, the third straight monthly rise.

Due to the deepening of a current

The Mongolian Stock Exchange celebrated a major achievement by surpassing MNT 3 trillion  in trading volume in the first nine months of 2023. This milestone was achieved after the successful sale of 387,000 shares of 43 companies and coal worth

The United States Agency for International Development (USAID) organized a forum to enhance Mongolia’s food security.  Focused on “Exploring New Financing Avenues for Agriculture,” the forum gathered diverse perspectives as representatives from the government, private sector and donor organizations discussed