Revised budget for 2011 is submitted

The Cabinet submits the revised draft budget for next year to Parliament upon receiving criticisms from party blocs in Parliament as well as the Council of Speaker. S. Bayartsogt, Minister for Finance, assured the Speaker that the Cabinet has carefully revised the draft to reflect suggestions made by MPs and party blocs. In the revised budget, the national revenue estimate is increased to MNT 3, 284.2 billion and expenditure estimate to 3,955 billion, responding to demands made by party blocs in Parliament. According to these estimates, budget deficit shall equal 8.6 percent of Mongolia’s GDP next year. The debates on the revised budget shall be held be shortly in Parliament.