‘Gold II’ national program to be realized to boost economic stability

Oyundelger 2017-01-18 11:01

Economy

The ‘Gold II’ national program will be implemented until 2020 as part of the government action plan for 2016-2020 and with the aim to recover the national economy.

‘Gold II’ national program to be realized to boost economic stability. The ‘Gold II’ national program will be implemented until 2020 as part of the government action plan for 2016-2020 and with the aim to recover the national economy. As envisaged, annual gold extraction is hoped to stably increase by 2-3 tons, gradually reaching 25 tons by 2020. MNT 33-59 billion will be added to the state budget in the form of charge for exploitation of mineral resources. Mongolia’s gold resources will be increased by 100-150 tons following geological explorations. According to the National Statistical Office, Mongolia’s gold production constitutes some 2.6 percent of GDP and little more than 9.0 percent of export income.