Mongolia Mulls Privatizations, Tax Hikes to Fill Budget Deficit
- Budget shortfall seen reaching $500m by the end of 2015
- Power plants, coal mines and the stock exchange may be sold
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Mongolia’s growing budget deficit is forcing the government to consider the sale of state-owned enterprises, tax hikes on petroleum imports and other measures to boost income.
The shortfall in revenue may reach 1 trillion tugrik ($500 million) by the end of the year, up from 600 billion tugrik in the first eight months of 2015, according to comments by Minister of Finance Bolor Bayarbaatar, posted on a government website.