STATE BUDGET 2018 BALANCE HITS POSITIVE SIDE FIRST TIME IN LAST 8 YEARS.
Khurelbaatar, Minister for Finance, held press conference at the Ministry of Finance. During his press conference, he stated several important achievements, made by the Government of Mongolia, in 2018 and they are:
– State budget revenue has reached over ₮10 trillion record in the history and state budget balance was positive first time since 2010.
– State budget revenue increased by ₮2 trillion.
– The state budget positive balance is much influenced by the improvement in the credit rating of the Mongolia.
– Budget discipline is tightened throughout the Government system and it helped the increase in the revenue.
– The Government of Mongolia hasn’t modified the state budget in 2018, which was the first time in last decade. Previous government modified the state budget 1-3 times every year.
BORDER PORTS WILL BE UNDER SURVEILLANCE
Every border ports exporting mineral resources will be equipped with CCTV camera.
There will not be major debt re-payment in 2019 and 2020, less burden to the budget. Debt of the Government of Mongolia is ₮21 trillion and it is equal to 60.4% of its GDP.
The Government of Mongolia is focusing on its debt re-payment of 2021 2022 (US$1 billion repayment i.e.), 2023 and it will bring impact on the currency rate.
If the Government successfully manages the foreign and domestic debt, Mongolian tugrik against foreign currency will be stable in the mid to long term.
Government will control every mineral resource exporting border ports with inspection of CCTV camera and inspection facilities.