Earlier today, the Parliamentary Budgetary Standing Committee backed a discussion on the 2019 State Budget statement and the 2020-2021 forecast documents presented by the Ministry of Finance.

The finance minister estimates spending in the 2019 State Budget as being MNT 10 trillion and MNT 12 trillion in 2020; this is based on high gold and copper prices on the global market. Revenue in the 2019 State Budget is estimated at MNT 19 trillion.

Following the 2016 general election, the Mongolian economy was near to default; as a result, the country had little choice other than cooperate with the IMF.