During the last year, Mongolia’s external debt has increased by over $1 billion. Specifically, the first quarter government debt was 15.7 percent higher than during the same period last year. There is an expectation that the country’s external debt will continue to grow till the end of this year, but it would “easily fit” within the 70 percent limit set by law. The Ministry of Finance even presented an estimate indicating that this year’s total will be lower than the previous year compared to the GDP. According to the previous Fiscal Stability Law, the balance of government debt should have been kept at 60 percent of GDP this year. The implementation of this requirement has been delayed to 2024 under a budget amendment and is a result of the pandemic impacting the government’s goal. It is not a secret that the country