The Year In Review 2012 Of Mongolia: "Critics also noted that Mongolia’s vulnerability to a downturn in commodities exports was exposed by a drop in demand from its biggest customer, China, in 2012. Mongolia’s expansionary fiscal policy was also blamed for double-digit inflation and balance of payments pressures.
The IMF in particular targeted spending levels this year, linking them to June elections. In the lead-up to the vote, the Mongolia People’s Party oversaw cash handouts and measures such as raising civil servant wages by more than 50%. But this didn’t stop the Democratic Party taking power by winning six more seats in the 76-member parliament."
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