Mongolia’s PM Zandanshatar launches “order and discipline” campaign.

Mongolia growth hit 6.4% in 2025, driven by agriculture and mining rebounds, but inflation and uneven incomes left households worse off.

Mongolia faces crucial tests on resource policy, fiscal discipline and energy security as commodity boom fades and public patience wears thin.

Oyun-Erdene’s fall, Zandanshatar’s rise, factional strife, Oyu Tolgoi, fiscal shocks and the forces reshaping Mongolia in 2025.

Fuel shortages threaten Mongolia’s coal exports and budget, exposing risky dependence on Russian imports.

Oyu Tolgoi is no longer just a mine. It has become a political instrument, as debt, delayed dividends and election timing collide just as the project enters full production.