THE DISTRIBUTION OF CASH CAUSES FOOD PRICE UP

THE GOVERNMENT OF MONGOLIA STARTED TO DISTRIBUTE MNT 330.000 FOR ELDERS AND DISABLED PEOPLE SINCE LAST THURSDAY.

THE GOVERNMENT OF MONGOLIA DECIDED LAST JANUARY MNT 1,000.000 FOR ELDERS AND DISABLED PEOPLE AS SHARE FROM HUMAN DEVELOPMENT FUND.

Some economists warned if distribute such money in cash inflation rate will up. And government suggested to distribute that money in three portion by MNT 330.000 twice and last portion by MNT 340.000.

Since Thursday long line on front of bank’s branch where distributing share. As warned economists distribution of cash caused price up of products such as meat and vegetable. “I bought a meat by MNT 7800. Now I see price raised by MNT 100” said B.Dulam, elder in Bars market.

The Bars is a whole sale market. Most shops buying food from Bars market and re-selling, particularly in remote areas of capital Ulaanbaatar.

Price of food products increased by MNT 50-200 compared one week ago.

SOURCE : NEWS.MN