Prime Minister reviewed actions of his cabinet since formation
Mr. Prime Minister J.Erdenebat singled out that firstly; his cabinet has sophisticated the budgetary system and commenced the action for applying discipline in public expenditures.
Prime Minister reviewed actions of his cabinet since formation. Mr. Prime Minister J.Erdenebat singled out that firstly; his cabinet has sophisticated the budgetary system and commenced the action for applying discipline in public expenditures. The government budget balance was critical in terms of deficit which was the consequence of careless spending of taxpayers’ money”, Mr. Prime Minister said. The government has settled the issue of USD 580 million debts, and shed a light on investors’ confidence. The fact that foreign investors offered USD 3.3 billion bid for the recently-issued government bond of USD 124 million can back up the accomplishments of this government, Prime Minister noted. He added that Mongolia will be free of debt owing to Chalco Company of China within this month. As a result, the East Tsankhi pit of the coal giant Tavantolgoi mine is finally getting into Mongolian people’s full ownership after seven years. The profit from coal mining in East Tsankhi will go directly to the Mongolian government budget.This government launched an open auction for Tavantolgoi’s coal and sold at the highest ever price – 72.5 USD per ton” he said. Although, some of the above mentioned works have been already initiated under the previous government, the incumbent cabinet pushed forward the stagnated processes, added the Prime Minister.
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