Economic Archives - Page 62 of 94 - News.MN

Nightmare for Mongolia’s exporters

According to the National Statistics Office, Mongolia’s exports fell by 45.3 percent in the first quarter of 2020 due to the coronavirus restrictions compared to same period last year. In the first quarter of 2020, Mongolia traded with 121 countries

Over 22 thousand Mongolian students to enter job market

University graduates are poised to enter one of the most difficult job markets in Mongolian history. Over 22 thousand students are expected to graduate with a university degree this academic year, according to the statistics. They will do so amid

Ulaanbaatar Smart Card suffers USD 1.4 million

Mongolia introduced a new payment system to public transportation in 2015.  Ulaanbaatar Smart Card, a subsidiary of the Korean Tmoney Company, suffered a 1.79 billion Korean Won (USD 1.4 million) loss in 2019, following a 1.82 billion Won loss the

ADB approves third aid package to Mongolia

The Asian Development Bank (ADB) has approved a USD 100 million loan to the government of Mongolia to mitigate the severe health and economic impacts of the novel coronavirus disease (COVID-19) pandemic.

ADB President Masatsugu Asakawa commended the Mongolian government on

New renewable energy plant in western Mongolia

A new combined solar photovoltaic (PV) and wind power plant is under construction in the Altai Soum of Gobi-Altai Province. The 450kW solar PV and 200kW wind hybrid plant is expected to begin operation later this year. The construction of

Moody’s: Mongolia’s rating changed to negative

Moody’s Investors Service has changed the outlook on the Mongolian government’s issuer ratings to negative from stable.

The decision reflects rising external vulnerability risks related to a sharp fall in export revenue at a time when access to external financing is

Steppe Gold selling to Central Bank of Mongolia

The Steppe Gold company said the COVID-19 pandemic had not had a material impact on its operations and it was still expecting to produce about 60,000 ounces this year at cash costs of about US$500/oz.  The company said it had

Mongolia’s wheat cultivation increases amid Covid-19 lockdown

Farmers in Mongolia’s cereal crop growing regions such as the provinces of Bulgan and Selenge have already begun cultivation. For example, in Bulgan Province, farmers are planning to cultivate a total of 42 thousand hectares; 1000 hectares with wheat.

At this