B.Javkhlan, the Minister of Finance gave the following information.
The Law on Budget Savings was approved in May, 2022 which is very effective. MNT 189.1 billion was saved from current budget expenses. Also, MNT 29.5 billion was saved through direct bidding. Therefore, a total of MNT 218.6 billion was saved in 2022.
Foreign debt indicators are positive. In 2022, the final balance of the Chinggis bond, which is USD 136.8 million, was paid directly from the State budget on December 5, 2022, paying-off the loan taken in 2010.
At the end of 2023, the debt balance, which was expected to reach 70% of GDP, was reduced to 56.6%. The government's next strategy is to not increase the debt further.
B.Javkhlan, the Minister of Finance gave the following information.
The Law on Budget Savings was approved in May, 2022 which is very effective. MNT 189.1 billion was saved from current budget expenses. Also, MNT 29.5 billion was saved through direct bidding. Therefore, a total of MNT 218.6 billion was saved in 2022.
Foreign debt indicators are positive. In 2022, the final balance of the Chinggis bond, which is USD 136.8 million, was paid directly from the State budget on December 5, 2022, paying-off the loan taken in 2010.
At the end of 2023, the debt balance, which was expected to reach 70% of GDP, was reduced to 56.6%. The government's next strategy is to not increase the debt further.