Altan San Securities - Mongolia Investment - Draft agreement on Oyu Tolgoi investment will be signed before Naadam

Draft agreement on Oyu Tolgoi investment will be signed before Naadam

“The Oyu Tolgoi draft agreement will be discussed, adopted by the State Great Khural and the Government will be granted with the power to sign on it very soon” says an official who is close to the development around the issue. According to his talks, the Oyu Tolgoi agreement will be adopted before the Naadam Festival and the Government might sign on it before the end of July.
Business-mongolia.com reviews that the biggest leverage for this urgency is obviously the global financial recession. Mongolia would have a budget deficit of 93 billion MNT (80 million US$) by the end of this year. Therefore, the Government had to cut some of its social welfare expenses, including new marriage allowance and child money.

Source: www.business-mongolia.com

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