President Khurelsukh tells the government to pay Oyu Tolgoi dividends into citizens' accounts

President U. Khurelsukh met Prime Minister N. Uchral and Finance Minister Z. Mendsaikhan on November 3 and instructed the government to pay the Oyu Tolgoi dividends expected in 2027 directly into citizens' accounts.

The president's position

The president congratulated the government on securing a dividend agreement with the investor and noted that more than 100,000 citizens had backed a proposal on the D-Parliament platform to receive the dividends in their own accounts. He said rising global prices, fuel shortages and logistics disruptions were weakening household purchasing power.

"I think it is important to transfer the first share of our natural wealth to citizens' accounts each time it comes in. The government should draw up rules, within the law, on when and how the money goes into the accounts. Special attention should be paid to transferring the 3 trillion to citizens each time it arrives," the president said, according to Ergelt.mn and Record.mn.

The government's earlier plan

The government had planned to use 2 trillion of the 3 trillion tugrik in dividends for energy projects and put 1 trillion into the Savings Fund, but withdrew the related bill in October. On October 23, Prime Minister N. Uchral said the dividends would go into the Savings Fund and be spent on health, education and housing. Finance Minister Z. Mendsaikhan had earlier said the Sovereign Wealth Fund law does not allow the dividends to be paid out in cash.

Today Mendsaikhan told Eguur.mn that cash payouts carry an inflation risk, but that the president's instruction means a new legal framework will be needed.

Political reaction

MP N. Altankhuyag criticised the idea, saying it is wrong for someone to step in "like Santa Claus" and hand out taxpayers' money in cash. On X, the most shared post on the topic came from journalist G. Lkhagvadorj, who recalled that the prime minister had said ten days earlier that payouts would push the price of bread to 10,000 tugrik.

Oyu Tolgoi has not officially confirmed the size of the dividend, and it is not yet clear when or under what rules any money would be paid out.