Ulaanbaatar
PM Zandanshatar: Government to Implement Phased Policy Reforms
Politics
Ulaanbaatar, February 28, 2026 /MONTSAME/. Prime Minister Zandanshatar Gombojav delivered a report on Mongolia’s key socio-economic indicators at the Mongolian People’s Party Conference convened on February 27, 2026. He noted that Mongolia’s economy grew by 6.8 percent at the end of 2025, according to the National Statistics Office.
“Numbers are facts. A closer examination of these figures reveals that real growth and tangible performance were achieved across all sectors of the economy. This reflects the effectiveness of our Government’s policies and actions, and gives us confidence and momentum to continue our work in the coming period,” the Prime Minister said.
Following this growth, the agriculture sector accounted for 40 percent of total economic expansion, contributing 2.8 percentage points. The Oyu Tolgoi project made up 1.1 percentage points. “Therefore, it is fair to say that Mongolia’s economy is moving in the right direction,” he added.
Tourism revenue reached USD 700 million, becoming a significant pillar of economic growth. Mongolia also exported a record 90 million tonnes of coal. Export revenue increased threefold, rising from USD 5.4 billion in the first half of 2025 to USD 15.7 billion by year-end.
Beyond mining growth, the industrial sector also expanded. Exports of combed cashmere alone increased 3.8 times, reaching USD 335 million. This demonstrates opportunities to further diversify the economy by adding value and increasing export volumes.
Foreign exchange reserves rose to USD 7 billion, up USD 1.5 billion from the previous year.
The Prime Minister stated that the Government has approved and begun implementing a 300-day action plan aimed at ensuring that the benefits of economic growth reach every household.
He further emphasized that phased policy reforms will ensure economic growth reaches every citizen.
In his address, he also stressed that the country’s real enemy is not political competition but corruption. “Our real enemy is not the opposing party. Our real enemy is the ‘invisible hand’ that steals public wealth, destroys public trust, and stifles development — the irresponsible system and corruption,” he said. In 2025, investigations were conducted into 1,911 cases involving 1,369 suspects and 2,259 alleged offences of corruption and abuse of office. A total of 225 cases were resolved by the courts, and MNT 163.1 billion in damages was recovered. The fight against corruption and the pursuit of justice will continue, he emphasized.
