Archives Economic development - Page 20 of 35 - New Eastern Outlook

Mongolia adopted its 2024 budget law on October 1, 2023. As part of the preparations for the budget law, an extensive preparatory review of the 2023 figures was performed. These were correlated with the spending plans for 2024, 2025 and 2026, and the results were summarized in a special report published by Mongolia’s Ministry of Finance. The report is primarily a breakdown of Mongolia’s draft budget for 2024. As for the budget itself, the following points made in the report are worthy of note…

Russia’s glowing potential as a bastion of stability in the new multipolar order seems endless. When the United States and her European allies waged economic war on Moscow, the conventional thinking was that the Russian people would suffer. Today, geography, cultural considerations, and especially the idea of overall beneficial relations all favour the world’s largest country. A look at Russia-Mongolia ties and recent initiatives is further evidence of this…

A joint Saudi-Iranian-Chinese trilateral statement was signed in Beijing on 10 March last year. In the statement, Riyadh and Tehran agreed to resume diplomatic relations and open their official missions. They were suspended in 2016 following attacks on Saudi institutions in Iran during protests against Riyadh’s execution of cleric Nimr al-Nimr on terrorism charges. The terms of the agreement also included the unblocking of cooperation in various fields, which was signed 20 years ago. The March agreement came as a surprise, with a number of Middle East experts describing it as “historic”…