3,382.96
Parliament discussed on
May 13 the proposal by the Government to
issue two bonds, one to raise MNT55.5 billion to meet the budget deficit, and
the other for MNT72 billion to grant apartment loans to state officials and others.
Minister for Finance S.Bayartsogt, noted that Parliament had agreed to the bond
issues when passing the general budget of 2011.
N.Ganbyamba felt that the Government had taken to selling bonds as an easy
option and was not using it only for important reasons. Bayartsogt’s answer was
that the need to meet a budget deficit amounting to 9.9% of the GDP certainly
qualified as an urgent need.
May 13 the proposal by the Government to
issue two bonds, one to raise MNT55.5 billion to meet the budget deficit, and
the other for MNT72 billion to grant apartment loans to state officials and others.
Minister for Finance S.Bayartsogt, noted that Parliament had agreed to the bond
issues when passing the general budget of 2011.
N.Ganbyamba felt that the Government had taken to selling bonds as an easy
option and was not using it only for important reasons. Bayartsogt’s answer was
that the need to meet a budget deficit amounting to 9.9% of the GDP certainly
qualified as an urgent need.
