Kh.Bulgantuya: State budget tightens due to bond payment

Translator E.Oyun-Erdene

2020-06-30 09:15 GMT+8

Deputy Finance minister Kh. Bulgantuya answered our journalists questions:   

Most Mongolian citizens voted Mongolian People’s Party believing the MPP can carry the burden. The World Health Organization couldn’t say when the pandemic period ends. We must be united and mobilize all our internal resources. The next four years need to be very businesslike.

In 2000-2024, many foreign loans, such as the Chinggis bond, will be repaid. Thus, the State budget must be tightened. State budget will be amended and this issue will be discussed soon. Some adjustments shall be made coordinating with income. 

Budget revenues have been severely cut. In the past, up to 1,200 coal trucks used to cross the border daily, but the re-spread of Covid-19 in China influenced on export reduce.

On the positive side, Mongolia is a small trading country that exports less than 2% of China's total imports.

All expenses, such as welfare, are alloted from the State Fund on time. Besides my election campaign, I worked on its monitoring.

-What is your opinion on the new draft pension law?
-There should be a private pension fund. In countries such as Australia, citizens with high income can save as much as they want.

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