Ulaanbaatar
Government repays MNT 1.5 trillion debts in 2019
Economy
Ulaanbaatar /MONTSAME/. Within the framework of Government’s goal to ‘reduce debt burden’, debts worth MNT 1.5 trillion were paid off in 2019 by improving budget discipline and opting out of high-interest commercial loans.
Since the cabinet led by Prime Minister U.Khurelsukh was formed, a total of MNT 8 trillion of debts were paid back, bringing the government’s total debts down to 55 percent of the country's GDP, which is the lowest since 2016.
Moreover, a strategic document defining the targets and ways to eliminate debt pressure of the government was approved by the Parliament. A goal has been set to maintain constant reduction of the government debts and bring debts ratio to GDP at 40 percent by 2022.
