Parliament Approves Mongolia’s 2026 State Budget

The State Great Khural has officially approved Mongolia’s 2026 state budget, along with the budgets of the National Wealth Fund, the Social Insurance Fund, and the Health Insurance Fund. Lawmakers held the fourth and fifth readings of the draft bills and voted article by article before passing the budget in full.

Out of 96 members present, 69 voted in favor—a 71.9% approval rate—finalizing the 2026 budget.
The approval came at a politically turbulent time. The budget faced the risk of missing the legal deadline of November 15 due to ongoing political uncertainty, yet Parliament managed to pass it just in time.

According to the budget framework:

• GDP growth is projected at 5.7% in 2026, 6.3% in 2027, and 6.5% in 2028.
• Inflation (consumer price growth) is expected to reach 7% in 2026, 6% in 2027, and 5% in 2028.
• The balanced budget revenue floor is set at ₮31.93 trillion, or 31.2% of GDP.
• The total expenditure ceiling is ₮32.98 trillion, or 32.2% of GDP.
• The fiscal balance is planned at a ₮2.07 trillion deficit, equal to 2% of GDP.
• The government debt level is projected at ₮51.2 trillion, or 50% of GDP.

Despite heated debate and political tensions, lawmakers emphasized that the approved budget aims to maintain macroeconomic stability and support steady growth over the next three years.