MP B.Choijilsuren meets World Bank delegation

2019-03-14 15:21:57

Ulaanbaatar /MONTSAME/ Head of the parliamentary Standing Committee on State Budget, MP B.Choijilsuren today met with a delegation headed by Deepak Mishra, Practice Manager at the World Bank’s Macroeconomics, Trade, and Investment (MTI) Global Practice.

In the beginning of the meeting, MP B.Choijilsuren highlighted Mongolia’s economy has been improving and the budget revenue was overfulfilled in the first two months of 2019, expressing his hope that the positive performance would last over the year. He then said the second and third stage financing of the World Bank’s USD 440 million fund to be provided under the Extended Fund Facility (EFF) need to be disbursed according to the agreement as the Government of Mongolia is required to take major policy measures to reduce fiscal imbalance and exchange rates even though the budget revenue is showing the overfulfilment.

For his part, Mr. Deepak Mishra said the second stage disbursement is under preparation as Mongolia has already accomplished five out of the required 10 policy actions and four of the remaining five can be accomplished in the first quarter.