Government debt to be equaled at 55.3 percent of the GDP in 2019

2018-05-25 11:58:15
Ulaanbaatar/MONTSAME/ At today’s plenary meeting, Mongolia’s Parliament approved the State Budget Framework for 2019 and the Budget Assumptions for 2020-2021, submitted by the government.

According to the basic guideline to develop socio-economy for 2019, a total of 123 policy actions with 20 objectives will be implemented within the fundamental policy groups such as, macro-economy, regional and rural development, environment, social policy to promote human development, governance, judicial reform, foreign policy and defense sector.

Some MNT 8 trillion and 780 billion has been estimated to be spent on realizing the objectives and actions reflected in the guideline. Out of which MNT 5 trillion and 170 billion will be financed with public and private sector partnership and private investment.  

Moreover, next year it is planned to reduce the government debt by 10 percent, making it 55 percent of the GDP, whilst the budget deficit will be decreased by MNT314 billion and no new bonds will be issued to recover the budget deficit.