Ulaanbaatar, February 17, 2026 /MONTSAME/. A working group established by order of the Speaker of the State Great Khural and tasked with providing recommendations and conclusions on economic, business, banking and financial matters, as well as drafting relevant legislative proposals, convened on February 16, 2026.

The group received briefings from the Ministry of Finance, the Bank of Mongolia, the Financial Regulatory Commission, and the Ministry of Economy and Development on lessons learned from economic, business, and financial policies since 2016, future policy directions, and legislation requiring amendment.

Bayardavaa B., Director of the Monetary Policy Department of the Bank of Mongolia, presented the macroeconomic outlook and measures to be implemented in relation to consumer lending. He noted that inflation is projected to rise compared to previous forecasts due to a poor harvest leading to higher domestic food prices and the failure of meat and meat product prices to decline in line with seasonal trends. In addition, the decision to increase the salaries of teachers, doctors, and healthcare workers is expected to raise service and non-food inflation through cost channels.

He further stated that adverse weather conditions, including the risk of dzud, potential fuel supply disruptions, and other supply-side shocks may intensify inflationary pressures. Financing mega projects through domestic sources could also stimulate demand-driven inflation. The medium-term outlook, he emphasized, remains directly dependent on the external environment, commodity demand and prices, and fiscal policy.

Munkh-Orgil J., Head of the Legal Department of the Financial Regulatory Commission, presented an overview of the Commission’s activities and the financial market situation. Munkh-Erdene B., Director of the Investment Policy and Planning Department at the Ministry of Economy and Development, introduced the initial draft of the Law on Economic Freedom.

Although economic growth is recovering, inflation has yet to stabilize at the target level. Mongolia ranks within the upper half of countries in the global economic freedom index; however, several policy environment challenges remain. These include high costs, lengthy procedures, and multiple stages required to start a business; weak mechanisms for resolving investor complaints and disputes; insufficient guarantees of property rights; and excessive licensing requirements at all levels of government.

Accordingly, amendments to the Law on Investment propose establishing a formal mechanism to address investor grievances, clarifying the functions of public administrative bodies, and enabling dispute resolution through negotiation.

Within the framework of the “Chuluulye” (Liberate) initiative, the working group also heard reports from relevant ministries and agencies. The group is pursuing reforms aimed at removing barriers in the economic and business environment, improving governance, reducing bureaucracy, preventing overlaps, gaps, and inconsistencies in legislation, introducing smart governance, and curbing corruption and red tape.

In this context, the General Department of Taxation plans to institutionalize an advisory-based tax administration system, while the General Administration of Customs will undertake legal reforms to support economic activity, diversification, and exports.