PARLIAMENTARIANS ABOUT MASTER BUDGET FOR NEXT YEAR
Ulaanbaatar, Mongolia /MONTSAME/ A report was given on Thursday on how the master budget of Mongolia for 2012 was approved by the State Great Khural.
Present at news conference were D.Khayankhyarvaa MP, head of the Standing committee on budget; D.Gankhuyag MP, head of the working group on budget law from the Democratic Party; Su.Batbold, a head of the working group from the Mongolian People's Party (MPP); and N.Batbayar MP.
Much time has been taken to approve the master budget and many times it has been altered because this year's master budget was the latest one within the term of MPs' office and some part of it will go for the upcoming parliamentary election, besides, the budgetary receipt and expenditure have been trimmed for the first time ever. Taking into account proposals from the Bank of Mongolia and a possible influence of the global economic crisis, MNT 900 billion has been curtailed from the total budgetary expenditure, whereas 600 billion has been curtailed from the revenue.
It is forecast the balanced revenue of the master budget will be MNT five trillion and 822.5 billion, and the expenditure met the revenue will be MNT six trillion and 306.3 billion. Despite the governmental proposal, a size of the Gross Domestic Product (GDP) has been arranged with MNT 16.1 trillion, in accordance with a parliamentary decision. Moreover, the budgetary receipt has been approved with four trillion 630 billion and 707 million; and the size of budgetary expenditure--with four trillion 865 billion and 904 million. The MPs underlined the approved master budget for next year might be amended again because of possible financial crisis in the world.
D.Khayankhyarvaa MP said this master budget is devoted for the country's interests in the first place, D.Gankhuyag pointed out that this is the historical one. N.Batbayar emphasized that initial expenditures from the government have been cut by 13 per cent.
The MPs said every citizen of Mongolia will receive stocks costing one million togrog in February of the next year. “The citizens can receive their stocks in cash, but since price of the stocks might soar, people should choose the stocks. If all want to take the stocks in cash, the government will issue a certain rule for this,” they stressed.
Mentioning that parliament has passed a fiscal policy for 2012, the MPs pointed out the cabinet is responsible for taking measures for keeping the inflation rate within two-digit number.
B.Khuder
Present at news conference were D.Khayankhyarvaa MP, head of the Standing committee on budget; D.Gankhuyag MP, head of the working group on budget law from the Democratic Party; Su.Batbold, a head of the working group from the Mongolian People's Party (MPP); and N.Batbayar MP.
Much time has been taken to approve the master budget and many times it has been altered because this year's master budget was the latest one within the term of MPs' office and some part of it will go for the upcoming parliamentary election, besides, the budgetary receipt and expenditure have been trimmed for the first time ever. Taking into account proposals from the Bank of Mongolia and a possible influence of the global economic crisis, MNT 900 billion has been curtailed from the total budgetary expenditure, whereas 600 billion has been curtailed from the revenue.
It is forecast the balanced revenue of the master budget will be MNT five trillion and 822.5 billion, and the expenditure met the revenue will be MNT six trillion and 306.3 billion. Despite the governmental proposal, a size of the Gross Domestic Product (GDP) has been arranged with MNT 16.1 trillion, in accordance with a parliamentary decision. Moreover, the budgetary receipt has been approved with four trillion 630 billion and 707 million; and the size of budgetary expenditure--with four trillion 865 billion and 904 million. The MPs underlined the approved master budget for next year might be amended again because of possible financial crisis in the world.
D.Khayankhyarvaa MP said this master budget is devoted for the country's interests in the first place, D.Gankhuyag pointed out that this is the historical one. N.Batbayar emphasized that initial expenditures from the government have been cut by 13 per cent.
The MPs said every citizen of Mongolia will receive stocks costing one million togrog in February of the next year. “The citizens can receive their stocks in cash, but since price of the stocks might soar, people should choose the stocks. If all want to take the stocks in cash, the government will issue a certain rule for this,” they stressed.
Mentioning that parliament has passed a fiscal policy for 2012, the MPs pointed out the cabinet is responsible for taking measures for keeping the inflation rate within two-digit number.
B.Khuder
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