ULAN BATOR, Aug. 17 (Xinhua) -- Mongolia will raise the monthly minimum wage by 26.3 percent to 1,000,000 Mongolian tugriks (about 277 U.S. dollars) starting next year, the country's Ministry of Family, Labor, and Social Protection announced on Monday.
The decision was made at a meeting of Mongolia's Tripartite Council, which comprises representatives from the government, employers and trade unions. The council took into account factors including the inflation rate, economic growth and employment levels. The new minimum wage will take effect on Jan. 1, 2027.
Currently, the minimum wage in Mongolia stands at 792,000 tugriks. There are over 1.1 million officially registered employees in the Asian country, with approximately 10 percent earning minimum wage salaries, according to the National Statistics Office. ■