Ulaanbaatar
Cabinet approves 2017 development scheme
PoliticsUlaanbaatar /MONTSAME/ At its regular meeting on January 25, the Cabinet approved an action scheme to realize ‘The 2017 directions for the economic and social development of Mongolia’. General budget administrators were ordered to allocate and spend the required money efficiently, and work attentively towards mustering non-budgetary sources.
In accordance with the scheme, a total of 342 measures - 31 in macro-economic sphere, 118 in frames of sectorial policies to facilitate economic growth, 64 in frames of policy on regional and rural development and environment, 65 in frames of social policy on human development and 64 in governance, legal renovation, foreign policy and defense will be taken.
This year, the Government will focus on activating major mining and infrastructure projects, ensuring economic growth, reducing unemployment, maintaining inflation at a low and stable level, lowering budget deficit than last year’s and enforcing progress in every sector.
With realization of the scheme, it’s estimated that economic growth will reach 3 percent, inflation 6.5 percent, percentage of budget deficit in GDP 9.1 percent and unemployment rate no more than 9 percent. MNT 5.4 trillion is required to realize the scheme; and the financing sources are state budget - MNT 353.9 billion, private sector investment 4.1 trillion and foreign sources - MNT 825 billion and others - MNT 104 billion.
