Finance Minister interview: Indian loan and high salaries at Erdenet

2016 оны 3 сарын 25

Yesterday, Minister of Finance B.Bolor answered a few questions.

-How much of GDP is Mongolian external debt?

-There was a rumor, that Mongolian debt has reached USD 21 billion. Actually, governmental debt is USD 7 billion. The Government will pay attention to the maximum level of the debt, which has been approved by Parliament. We did this last year and will do so again this year too.

-Will the Government take further debts this year? Recently the Government discussed a possible USD 1 billion loan from India. What will is it going to be used for?

-USD 1 billion from India is an additional preferential loan. We need to use this loan for correct sector, insofar as we can. Last year, this issue was left open during the visit of Indian Prime Minister Narendra Modi. Now, both governments are jointly working on this matter.

-There is information, that the heads of the Erdenet copper plant are receiving salary bonuses of EUR 27,000-30,000. Is that legal?

-I have seen this in the press. If it is true, their salaries are too high! There is no provision in Mongolian law abour earning salaries in foreign curreny – however, it it not right for the state to participate in state property companies. But it would appear like it is necessary to investigate the Erdenet plant.


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