Ulaanbaatar
Revised bill on Government Special Funds approved
Politics
Ulaanbaatar/MONTSAME/.
During its plenary meeting on November 13, the Parliament passed the revised bill on Government Special Funds
and related bills and draft resolution with 66.7 percent votes.
Government submitted this
bill to the parliament together with the bill on State Budget for 2020. The bill on Government special funds was
worked out for a purpose to streamline government special funds that make up
about 30 percent of the general government budget, make its financing and
expenses transparent and controlled and improve its impact on socio-economy by
means of ensuring public involvement.
In connection with the
revised bill on Government Special Funds, 15 bills including the bill on
annulling the law of Support for Industrialization, amendments to the Law on
Credit Guarantee Fund were formulated. According to the amendments to the Law
on Credit Guarantee Fund, a statement in the Law, saying “Up to 60 percent of the total guaranteed credit
disbursed from the Small and Medium Enterprise Development Fund shall be double
guaranteed by the government” was considered indispensable to be annulled in
order to reduce possible debt risk to the state budget.
