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Government debt amounts to MNT 20 trillion, below the threshold www.en.montsame.mn
Ulaanbaatar /MONTSAME/ As of the first quarter of this year, the Government debt is around MNT20 trillion, comprised of foreign debt of MNT13 trillion, internal debt of MNT5 trillion and Government guaranteed outstanding loan of MNT1 trillion. At the end of 2016, the Government debt totaled to MNT22 trillion, including foreign debt of MNT12 trillion, domestic debt of MNT6 trillion and Government guaranteed loan of MNT3 trillion.
“It means the Government debt amount satisfies requirement of debt threshold, indicated in law on Budget stability. In other words, according to performance, the debt amounted to 79 per cent of GDP in 2016, below the threshold of 88 per cent and by the first quarter, it was equal to 72.7 per cent of GDP, which is also below the threshold of 85 per cent” said Deputy Finance Minister Kh.Bulgantuya.
Today, the Parliamentary Standing Committee of Economy discussed the Government foreign and domestic debt and measures being taken with a regard to funding and repaying Government bonds and officials of the Finance Ministry made a briefing on the issue, answering questions from MPs.
The Development Bank’s “Euro” bond of USD580 million, which had a scheduled repayment on March 21, was refunded successfully. The refunding was carried out in a way that favorable to investors and to the market, not causing negative effects to the economy and not drastically fluctuating foreign exchange reserves, the Deputy Finance Minister said.
MP Kh.Davaasuren expressed his position that it is improper to refund to repay debts and MP B.Battumur noted that due attention should be paid on satisfying balance of market when issuing Government securities.
Published Date:2017-05-24
