Minimum Wage Increase in Mongolia

The National Tripartite Committee for Labour and Social Partnership convened on October 7, 2024, and reached a decision to raise Mongolia’s minimum wage by 20%. The minimum wage will increase from 660,000 MNT to 792,000 MNT, effective April 1, 2025.

 

In addition to the general wage increase, the committee agreed that certain sectors, including mining, construction, and road transport, will be allowed to set their minimum wage levels through sector-specific regulations.

 

The determination of the new minimum wage took into account several key factors:

• The subsistence level of the population

• Labour productivity and its alignment with the average wage

• The minimum full pension provided by the social insurance fund

• Economic growth and employment levels

• Inflation

A working group formed by the National Tripartite Committee assessed these factors and recommended a 20% increase, a proposal that received unanimous support from all parties involved. This adjustment aims to better reflect the economic realities and improve the living standards of the workforce.