Ulaanbaatar
2019 State Budget Bill submitted to Parliament
Economy
Ulaanbaatar /MONTSAME/. The Minister of Finance Ch.Khurelbaatar submitted the bill on the 2019 State Budget which was approved by the Government.The budget revenue is calculated to be MNT9 trillion and 676.5 billion or 27.4 percent of the GDP and the expenditure as MNT11 trillion 589.8 billion or 32.8 percent with a deficit of MNT1 trillion 913.3 billion or 5.4 percent of the GDP.
In the coming year, it
is planned to run the “Electronic, apparent, efficient” budget policy in
aims of having a sustainable economic growth and boosting the efficiency of the
budget.
To reform budget expenditure
numerous actions are planned including eliminating uneven distribution, making
it transparent, taking conrete measures for reducing air pollution, making
hospitals more autonomous and fixing the funding system, drastically improving
quality and access of services of family clinics and soum hospitals, increasing
meat export by improving livestock health, preparing professional workers that
are in high demand in labor market, efficiently spending wage expenditure,
raising investment for solving pressing social issues, improving its efficiency
and using foreign soft loans for beneficial social and economic projects.
The government has planned on paying back 1 trillion 71.9 billion tugrugs of debt of the Human Development Fund and 553.1 billion tugrugs in 2019 and save over 1 trillion tugrugs each year for the Future Heritage Fund. By doing this, Mongolia would be making savings from the income of natural resources for the first time and leaving it as an inheritance for the future generations.
