New Recovery – New Partnership: Government of Mongolia’s consultation with the Development Partner community

This meeting aimed to have an open discussion with the development partner community on the country’s economic outlook in the lead-up to the budget discussion at the Autumn Session of the Great Khural of Mongolia, to be convened on 2 October.

The Prime Minister highlighted that he sees this meeting is to serve as a regular mechanism to hear the international partners and discuss priorities in the development partnership.

The Government of Mongolia has gone through a challenging time during the last years of the COVID-19 pandemic, and its aftermath, followed by the geopolitical crisis due to the Russia-Ukraine war. However, the PM emphasized that the economy has some good recovery signs thanks to a series of measures within the New Recovery Policy – a key initiative by the Cabinet to tackle development challenges.

At the meeting, the Deputy Prime Minister and the Minister for Economy and Development of Mongolia, Ch. Khurelbaatar presented the Economic Outlook of Mongolia, which projects positive economic growth in 2024 as most of the key sectors have returned to pre-pandemic levels.

The Minister for Finance, B. Javkhlan also emphasized that GPD per capita reached USD 5000 in 2023, and predicts it to grow up to USD 6000 in 2024.

Following the presentations of the Ministers, the open discussion session was facilitated by the UN Resident Coordinator Tapan Mishra.

The international dignitaries raised many critical issues related to the sustainable development of Mongolia, including the need to accelerate the country’s efforts to achieve SDGs, the importance of addressing food and nutrition for the population and transforming education through digitalization.

One of the key topics raised by a number of participants was the transition to renewable energy and exploring ways to fully utilize renewable energy potentials.

Mr Mishra, UN Resident Coordinator expressed the collective appreciation of the development partners to the Government for their open and transparent discussion to explain its development policies and programs, and seeking mutual cooperation with its international partners.