July 7th, 2016 134
by Mogi Badral Bontoi
July 7, 2016 (Nikkei Asian Review) The resounding defeat of the Democratic Party in Mongolia's election came down to two key issues: the economy and unemployment.
The left-wing Mongolian People's Party has capitalized on this to return to power after a four-year absence. Upon taking office on July 5 as speaker of the State Great Hural, the country's unicameral parliament, MPP Chairman Miyegombo Enkhbold said that with the country's outlook at its darkest since the global financial crisis, the first task of the incoming government will be to formulate an economic stability program.
The MPP governed the country for most of the 20th century but lost power in 2012 when Mongolia was declared the world's fastest-growing economy. The former communist party won 65 out of 76 parliamentary seats on June 29, as well as all but one provincial election. The MPP's victory echoes the 2000 election, which saw the party sweep the Democrats out of power by capturing 72 out of 76 seats in parliament.
Earlier version (July 2, 2016): http://asia.nikkei.com/Viewpoints-archive/Viewpoints/Mogi-Badral-Bontoi-Mongolia-s-new-government-could-face-a-short-honeymoon