Mongolia 1996

Yearbook 1996

Mongolia. After 75 years of communist rule, there was a regime change in the parliamentary elections in June. The Reformed Communists of the Mongolian Revolutionary Party (Mongol Ardyn Chuvisgalt Nam) had managed to retain power in the free elections in 1992, but were now given only 25 of the 76 seats in Parliament. Victory made an alliance of two opposition parties, the Mongolian Democratic Union (Mongolyn ardtjilsan cholboo evsel), which received 50 seats. The new Prime Minister was appointed Democratic Unionist Mendsajhanij Enhsajhan, an economist who was previously Chief of Staff to President Punsalmaagijn Otjirbat.

  • ABBREVIATIONFINDER.ORG: What does MN stand for? In the field of geography, this two letter acronym means Mongolia. Check this to see its other meanings in English and other 35 languages.

Economy

Inflation rate 4.60%
Unemployment rate 8th%
Gross domestic product (GDP) $ 43,540,000,000
GDP growth rate 5.10%
GDP per capita $ 13,000
GDP by sector
Agriculture 12.10%
Industry 38.20%
Service 49.70%
State budget
Revenue 695.3 million
Expenditure 634.5 million
Proportion of the population below the national poverty line 29.8%
Distribution of household income
Top 10% 28.4
Lower 10% 3
Industrial production growth rate 4.90%
Investment volume
National debt 91.40% of GDP
Foreign exchange reserves
Tourism 2014
Visitors 393,000
Revenue $ 215,000,000

The new government had to take over a country in an economic crisis so deep that the largest commercial bank, the half-state-owned People’s Bank, had to be closed after losing nearly SEK 200 million. The economic situation was further aggravated by the hundreds of fires that devastated large parts of the country during the spring and early summer. More than 100,000 square kilometers of forest and cultivation land were destroyed, and large numbers of livestock fell.

Population 1996

According to Countryaah.com, the population of Mongolia in 1996 was 2,297,909, ranking number 138 in the world. The population growth rate was 1.020% yearly, and the population density was 1.4792 people per km2.

Mongolia Population Distribution by Age