According to the National Statistics Office (NSO), the equilibrated balance showed a deficit of MNT 643.5 billion in the first four months of 2020. It was deteriorated by MNT 930 billion compared to a surplus of MNT 286.5 billion in the same period last year. Total equilibrated revenue accounted for 93.4 percent of the general government budget revenue. Specifically, the deficit was higher in February, March, and April, the state of the emergency period amid the pandemic. During the period, general government budget expenditure and net lending increased by MNT 474.8 billion or 16.7 percent year over year, totaling up to MNT 3.3 trillion by preliminary results. This was mainly due to the increase of MNT 464.2 billion or 18.7 percent in current expenditure and MNT 68.7 billion or 21.9 percent in capital expenditure.In April 2020, total revenue and grants of General Government Budget reached MNT 642.4 billion, dropped by MNT 117.8 billion or 15.5 percent, and total expenditure and net lending amounted to MNT 970.5 billion, rose by MNT 109.9 billion or 12.8 percent compared to the previous month. Mongolia’s foreign debt due in 2020-2024 stood at USD 14.3 billion, increasing the need to raise official foreign exchange (FX) reserves. FX reserves briefly fell to USD 4.09 billion in March from USD 4.4 billion at the beginning of the year.Moreover, the Trade and Development Bank (TDB) on Mon-day announced that it has repaid 100 percent of its government-backed bonds worth USD 500 million issued in 2015. TDB is successfully repaying its fifth bond. Since 2007, it has traded USD 1.14 billion worth of bonds in international markets.

Published Date:2020-05-20