New ambassador to China Ts.Sukhbaatar was presented his credentials from the President Ts.Elbegdorj. The ambassador will start work within this week. Since China is the biggest trading partner of Mongolia, Ts.Sukhbaatar said he realizes that he was appointed to an important task.

World Bank’s seventh monthly economic update report was released last Friday. Following is highlighted excerpts from the report.

Six state-owned factories and businesses were planned to be privatized in the General Budget Prognosis of 2010. More clearly, “Autoimpex” JSC is for ₮900 million, “MongolBolgarGeo” JSC for ₮500 million, “Mongol Shuudan” (Mongolian Post) JSC for ₮1,500 million and “Hutul Cement and Lime” JSC for ₮12,500 million, “Asgat” JSC for ₮50 million, “Gadaadad Ajillah Huch Ilgeeh Tuv” (Center for sending labourforce to abroad) for ₮200 million. Their total is ₮15.6 billion.

According to the Mongolian General Budget Projection in 2010, budget income is ₮2,306.0 billion, expense is ₮2,664.6 billion and total deficit is ₮358.6 billion, equal to 5% of GDP. Budget total deficit is ₮433.7 billion. This deficit is planned to be covered within the program “Standby”, ₮92.2 billion from donors, ₮109.2 billion from foreign loan and project loan, ₮141.5 billion from Mongolia Development Fund (remaining of a fund for eliminating the critical situation due to force majeur effects). 

DP group in the Parliament discussed about the State Budget of 2010 yesterday. Leader of the group Ch.Saikhanbileg gave information about the outcome of the meeting.