The First 100 Days of Zandanomics
Fiscal cuts and a coal boom steady the economy—for now.
Prime Minister Gombojavyn Zandanshatar marked in September 2025 his first 100 days in office by claiming an economic turnaround. GDP growth jumped from 2.4% in the first quarter to 5.6% in the second. Foreign reserves rose from $5.38 billion in July to $5.7 billion in September.
The government hails this as a policy-driven miracle. In reality, it rests on a mix of commodity luck and politically calculated austerity.
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