Minister of Finance Ch.Khurelbaatar said “As of today, the official exchange rate of the US dollar equals to MNT 2636. In 2018, the export volume amounted to USD 7 billion and the trade turnover to USD 12.8 billion. Moreover, external trade balance showed a surplus of USD 1.1 billion. Mongolia’s external debt made up 74.4 percent of the country's GDP at the end of 2017 and the ratio decreased to 60.9 in 2018. In 2019-2020, Mongolia will be under relatively low debt pressure.”

MP B.Battumur asked about how the central bank’s deficit will be eliminated and the government’s policy on balancing exchange rate of Tugrik.

“The government’s action on reducing external debt results decrease in exchange rate. Mongolia will repay USD 500 million debt of Khuraldai Bond in 2021, USD 1 billion of Chinggis Bond in 2022 and USD 800 million and USD 600 million of Gerege Bond in 2023. In general, the country will settle a total debt of USD 2.9 billion within four years. The Ministry of Finance is planning to extend the repayment period to ten years. By doing so it will not only prevent increase in the exchange rate, but also play important role in attracting foreign investment,” Minister of Finance Ch.Khurelbaatar stressed.

Deputy Governor of the Bank of Mongoia B.Lkhagvasuren noted the bank has worked efficiently in 2017-2018, reducing its deficit of MNT 3.4 trillion to MNT 1.8 trillion.

MP B.Choijilsuren questioned why World Bank’s USD 120 million fund and JICA’s USD 284 million fund have not been provided. The Minister of Finance answered funding of the joint programs with IMF is being provided thoroughly and that JICA’s fund will be received after the new airport become operational in July.