Budget deficit prompts Mongolian power plant privatisation

Mongolian power plant privatisation: Mongolia’s Treasury is inviting tenders for someone to underwrite the sale of five state-owned power plants as the country’s growing budget deficit forces the government to consider private some of its assets. According to Finance Minister Bolor Bayarbaatar, the country’s revenue shortfall could reach $500 million as its feels the effect of the slump in commodity prices, the slowdown in China slowdown and a drop in FDI.

Mongolian PM Saikhanbileg Chimed

“We need to conserve our spending and tighten our belts during this time of decreasing income,” Prime Minister Saikhanbileg Chimed was quoted as saying on the Mongolian Stock Exchange’s website adding that raising duties on petroleum imports was also an option.  

Source: AKIpress