On Thursday 21st, the leader of the tri-lateral National Commission on Labor and Society , Labor Minister G.Bayarsaikhan, CEO of the Mongolian United Federation of Employers Kh.Ganbaatar and the Mongolian Trade Union announced, that the Mongolian minimum wage is to increase by 25%.
Minister Bayarsaikhan said that: “The Law on Minimum Wage requires that the minimum wage be updated once every two years. It has been about two years, since the latest update was implemented on 1st September 2013. On that occasion, the minimum monthly wage was increased to MNT 192,000, this being MNT 1142.86 per hour.
The day before the announcement, the tri-lateral National Commission on Labor and Society had a been in session; the outcome of the meeting being a document (4th protocol) raising the hourly salary to MNT 1428.60 per hour and the minimum monthly wage up to MNT 240,000. It should be noted that the increase is by 20% and not the above-mentioned 25%. The new wage minimum wage will take effect from 1st January 2017”.