Non-performing loans in banking system amount to MNT1.9 trillion
At the end of July 2020, the total amount of outstanding loans to enterprises and individuals amounted to MNT 17.3 trillion, decreased by MNT 40.4 billion (0.2%) from the previous month and decreased by MNT 945.1 billion (5.2%) from the same period of the previous year.
Traded pieces of securities decreased by 87.9 percent from previous month
In the first seven months of 2020, securities worth of MNT 23.7 billion were traded at the national stock market, which is decreased by MNT 101.0 billion (81.0%) compared to the same period of the previous year.
Term deposits in foreign currency grow by 56.7 percent from last year
The money supply (M2) reached MNT 21.4 trillion at the end of July 2020, increased by MNT 1.1 trillion (5.3%) compared with the same period of the previous year.
Vietnamese Ambassador works in Darkhan
On August 14, Ambassador Extraordinary and Plenipotentiary of the Socialist Republic of Vietnam to Mongolia Doan Thi Huong and representatives of the Ministry of Food, Agriculture, and Light Industry worked in Darkhan-Uul aimag.
Mongolia-UK partnership to expand in mining sector
On August 12, Minister of Mining and Heavy Industry G.Yondon received Ambassador of the United Kingdom of Great Britain and Northern Ireland to Mongolia Philip Malone.
Exports decreased by 17.1 percent compared to previous year
In the first seven months of 2020, Mongolia traded with 135 countries from all over the world, and the total trade turnover reached USD 6.7 billion, of which USD 3.8 billion were exports and USD 2.9 billion were imports.
Government debt rose by 1.7 times between 2015-2019
In 2015, total government debt was MNT 14.4 trillion and it increased by 54.5 percent in 2016 to MNT 22.3 trillion, reaching MNT 23.9 trillion in 2019. It means the total government debt increased by 1.7 times between 2015-2019.
Hungary to partner in building capacity of agricultural personnel
On August 11, Minister of Food, Agriculture and Light Industry Z.Mendsaikhan received Chargé d'Affaires ad interim of the Embassy of Hungary in Mongolia Borbala Obrusanszky.
Central bank allows to extend consumer loan maturity date through year’s end
On August 7, the Monetary Policy Committee of the Bank of Mongolia (BoM) held an unscheduled meeting and decided to prolong the implementation of restructuring and extending the maturity on consumer loans for lenders experiencing difficulties in their loan repayments due to the current economic circumstances, until December 31, 2020.
Foreign trade turnover decreased by 16.7 percent
As of the first seven months of this year, total foreign trade turnover reached USD 6.7 billion, showing a decrease of USD 1.4 billion or 16.7 percent drop compared to the same period of last year.
Project underway in Zavkhan aimag to open factories in every soum
As part of Zavkhan aimag’s goal to transform from consumer to producer, Z-24 project is being implemented to open factories in each one of 24 soums of the aimag.
Mongolian business entities invited to virtual fair to be held in Belarus
The Belarusian Chamber of Commerce and Industry has sent an invitation to the Mongolian National Chamber of Commerce and Industry, inviting Mongolian companies and entities to participate in a virtual trade fair to take place in the country.
BoM purchases 2.2 tons of precious metal in July
In July 2020, the precious metal purchase of the Bank of Mongolia (BoM) was 2.2 tons, raising the BoM’s total precious metal purchase of 2020 to 13 tons, of which 11.3 tons were gold and 1.7 tons were silver. It means the amount of precious metal purchase increased by 5.5 tons compared with the same period of previous year.
Measures to support people’s livelihood to continue
A presentation on making amendments to 2020 general budget of Mongolia has been delivered at the Cabinet meeting convened on August 5.
Darkhan Nekhii JSC prepares for export to Russia
Darkhan Nekhii JSC, a Tier 1 listed company on the Mongolian Stock Exchange (MSE), on August 3 presented its semi-annual financial and operational report to the public.
Liquid egg factory commissioned
“Tumen Shuvuut’ JSC, listed on the Mongolian Stock Exchange, has produced 33.5 million pieces of egg in the first half of 2020.
Mongolia-Singapore business meeting to take place virtually
The Mongolian National Chamber of Commerce and Industry in collaboration with the Embassy of Mongolia in Singapore plan to hold Mongolia-Singaporean webinar business discussion on September 10.
Currency swap agreement extended for three years
The bilateral currency swap agreement between the Bank of Mongolia and the People's Bank of China has been successfully renewed on July 31 for another 3 years until 2023.
Mongolia to enjoy tariff discount on 10 thousand types of products by joining APTA
The Ministry of Foreign Affairs (MFA) held a press briefing today to present actions being taken on expanding Mongolia’s trade and economic cooperation with its neighbor countries.
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