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Mongolians to elect new government

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Mongolians to elect new government


Mongolians have gone to the polls in a general election which many hope will enable the country to benefit from its huge mineral wealth.

Some 1.5 million people are eligible to vote in the vast nation – many travelling long distances to the nearest polling stations by whatever means available including horseback, foot and motorcycle.

While economic growth reached nearly 10 percent last year, inflation is at its highest level in a decade – and curbing it has been the main campaign pledge by all parties.

But politicians themselves complain that cash promises made during the campaign aren’t helping if they aren’t matched by fiscal reform and new revenue sources.

An unstable ruling coalition means the country has been through three prime ministers in four years.

The challenge for voters will be to elect a government with enough clout to pass amendments to Mongolia’s Minerals Law and allow copper and gold projects to go ahead – in what developpers say could boost the country’s GDP by 34 percent.

Results are expected on Monday morning.

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