The government of Mongolia has begun drafting an action plan for 2020 to 2024 and state budget amendment. All ministers, relevant agencies and the capital city administration are participating in the discussion organized by the Cabinet Secretariat.

The first chapter of the action plan deals with the COVID-19 pandemic. They will discuss how to overcome the current and future challenges of the pandemic with minimal economic damage.

During the discussion, Chief of the Cabinet Secretariat L.Oyun-Erdene said, “The action plan is based on Vision-2050 long-term development policy of Mongolia, 10-year medium-term program and a five-year action plan. In the upcoming years, the bond debt will be paid and major construction works such as oil refinery, railway, Tavan Tolgoi power plant, and hydropower plant will be completed.”

Moreover, Minister of Finance Ch.Khurelbaatar said that after the 2020 parliamentary election, a new government was formed and its structure and composition were changed.

“A budget amendment should be made to approve the action plan. In the first six months of this year, budget revenue was cut by 2.1 trillion MNT due to the pandemic. If this continues, it is expected to reach 3 trillion MNT by the end of the year. Therefore, the government of Mongolia and China has agreed mutually to implement the temporary ‘Green Gateway’ regulation to increase coal exports, and the government is cooperating with international banks and financial institutions,” he added.

The Government Action Plan 2020-2024 and budget amendment will be submitted to Parliament on August 10.