Mongolian Economy and Finance

Early next year, John Barton will step off a plane and look out over the snow-capped foothills surrounding the Mongolian capital of Ulaanbaatar.

When parliament discusses the budget, the arrangements and construction funded by the budget attract public attention.

Ulaanbaatar /MONTSAME/ In the first nine months of 2013, total equilibrated revenue and grants of the General Government Budget (GGB) amounted to 3,936.8 bln.tog, and total expenditure and net lending reached 4,067.6 bln.tog, representing a deficit of 130.9 bln.tog in the equilibrated balance of GGB.

During Monday"s regular cabinet meeting on October 7th a 2013 state budget amendment draft law was discussed and is set to be submitted along with related draft laws to Parliament.

The Citizens` Representative Khural in Khan-Uul district have approved the district budget and distributed budget into khoroos, depending on the proportion of population.

The 2013 budget approved by the Parliament on November 15, 2012 has an important implication as the first annual fiscal plan prepared under the fully effective Fiscal Stability Law (FSL).

Disclaimer: This Working Paper should not be reported as representing the views of the IMF.

Mongolians have now elected their representatives for the Administration in Aimags, sums and districts for the next four years and some Governors in Aimags have already been appointed.

When it comes to spending, the new government does not look so different from the last.

A Dispute over controversial mandate in the Uvurkhangai province erased and the parliament began the second discussion on draft budget today.

October looks to be a month for discussion on the budget and monetary policy.

Parliament discussed issues regarding the 2013 draft budget at a meeting today.

The draft laws regarding making amendments on the 2012 State Budget of Mongolia, the 2012 budget for the Human Development Fund and the 2012 budget for the Social Insurance Fund were brought into the 4th scheduled discussion through the plenary session meeting and were approved by 50 percent of the votes of the MPs (members of the parliament).

Politicians and others who need to give results within a few hours, days, weeks or years normally focus on the short run to prove that they are doing their jobs correctly and should keep them.

Ulaanbaatar, Mongolia /MONTSAME/ In the first 4 months of 2012, total equilibrated revenue and grants of the General Government Budget amounted to 1,465.8 billion togrog and total expenditure and net lending amounted to 1,513.8 billion togrog, representing deficit of 48.0 billion togrog in the equilibrated balance of General Government Budget.

Ulaanbaatar, Mongolia /MONTSAME/ On Wednesday, an irregular plenary meeting of the parliamentary session approved draft amendments to the laws on state budget for 2012 and on budget of social insurance fund for 2012.

Parliament on Tuesday discussed proposed revisions to the 2012 general budget.

Parliament on Wednesday approved further discussion of proposed revisions to the 2012 general budget and sent the matter to the Standing Committee on Budget.

Ulaanbaatar, Mongolia /MONTSAME/ The Civil Hall at the President will run an open discussion titled "Ensuring budget transparency and making the budgetary performance information open for the public rule".

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.