Capital City’s Budget for 2024 Amended

2024-06-20 09:55:46

Ulaanbaatar, June 19, 2024 /MONTSAME/.  The second Session of the 20th irregular meeting of the Citizens’ Representatives Khural of the Capital City (Ulaanbaatar City Council),  Mongolia was held on June 18, 2024.


At the Session, Draft Resolutions on Amendments to the Capital City’s 2024 Budget, Issuing and Trading Capital City Securities, and Amendments to the 2024 Land Management Plan of the Capital City were discussed and approved. Trading of Capital City securities in the domestic market within this year warranted the change to the 2024 budget. Specifically, according to the Government’s Resolutions, and minutes of the Citizens’ Representatives Khural of the Capital City, the funds raised from trading the securities will be used to finance certain projects in line with “Vision 2050” long-term development policy, New Revival Policy, and Ulaanbaatar’s Medium-Term Development Plan.

The projects to be financed from the funds generated from securities trading include:

  • Energy storage facilities
  • Infrastructure pipeline networks for the reconstruction of public apartments to be demolished that failed to meet requirements
  • Infrastructure pipeline networks for projects, except Ger district replanning
  • Repair and renewal of road networks and related blueprint and planning
  • Construction of eco-districts at the Selbe Sub Center

 At the Session, the Governor of the Capital City of Mongolia and the Mayor of Ulaanbaatar Nyambaatar Khishgee said, “The proposal to amend the Capital City’s 2024 budget comes from the need to reflect the income sources from domestic and foreign trading of the Capital City securities and to increase the expenditures of public utility services of the Capital City. Short bus route lines have been introduced in public transport in Ulaanbaatar since this January. Although this decision faced widescale objection, we continued 70 percent of the shortened bus route lines. As a result, the public transportation sector has saved MNT 25 billion, which is being allocated to the public utility sector. Furthermore, the performance of procurement with Ulaanbaatar city budget investment reached 93 percent. This year, we are working to increase the capital city budget efficiency and boost the benefits of the investments from the city budget.”