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Mongolia requests support from World Bank on developing securities market www.gogo.mn
According to the Parliament, Damba-Ochir Dorjdamba, Head of the Parliamentary Standing Committee on Economy requested the World Bank to focus on developing securities market and direct investment by supporting effective projects of the private sector, in response to World Bank's Country Manager for Mongolia James Anderson's enquiry on preferred sector for support, which was requested to formulate World Bank's strategy in the next four years.
In connection to his appointment, Deepak Mishra, Director General of Development Economy and Investment of the World Bank Group, requested the Mongolian Government official to exchange views on Mongolia’s economic and financial situation, which was held yesterday.
During the meeting Mr Damba- Ochir provided details on current situation of Mongolia’s economy, fiscal and monetary policies. For example, he noted that the 2018 budget was approved with 8 percent deficit, 2017 budget revenue has exceeded the target level, growth reappeared in the economy, revision of Laws on Banking and Central Bank were passed, as well as information on laws which will be discussed during the spring session.
In addition, Mr Damba-Ochir briefed on the long-term projects and programs to be implemented with low-interest development loans and financing of large projects that will contribute to the country’s economy and exchanged views.
Mr Deepak Mishra emphasized that the World Bank Group signifies the percentage of government's debt to the GDP in granting loans and funds to countries, as well as expressing his proposal to keep the debt amount at appropriate level in the future.
Oyunbayar.N
Published Date:2018-04-04
