Mongolia’s budget deficit reaches 9.8 percent of GDP - News.MN

Mongolia’s budget deficit reaches 9.8 percent of GDP

Mongolia’s budget deficit reaches 9.8 percent of GDP

Mongolia’s budget deficit currently stands at 9.8 percent of gross domestic product (GDP) amid the coronavirus crisis. According to Finance Minister Ch.Khurelbaatar, in the amendment to the 2020 State Budget, deficit would be MNT 3.8 trillion.

The budget revenue fell by MNT 2 trillion in the first half of 2020 and tax revenue flow was curtailed by MNT 3.4 trillion due to coronavirus stimulus package which zeroed most taxes.

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