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Economy / Featured News / Mongolia News / Politics / January 27, 2015

2015 state budget amendments approved

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The joint parliamentary session last Friday approved amendments to the 2015 state budget.
As MP D.Gankhuyag introduced, the total income of Mongolia’s joint budget is estimated at more than 6.6 trillion MNT, which is equivalent to 27.6 percent of GDP, and the total expenditure of the joint budget is forecasted at over 7.8 trillion MNT, equivalent to 32.7 percent of GDP. He also added that budget deficit is 1.2 trillion MNT, which is five percent of GDP.
In accordance with the approved 2015 budget amendment, excise tax on petrol and diesel increased by 228 billion MNT, income tax of entities by 60 billion MNT, income of privatization of property by 17.9 billion MNT, and personal income tax grew by 7.3 billion MNT.
Moreover, 19.4 billion MNT – the allowance for all mothers who have received the Order of Glorious Motherhood, was additionally allocated to local social welfare funds, 9.1 billion MNT for pregnancy and postpartum allowance, and 13 billion MNT was additionally budgeted for pensions.
Also, nearly 34.5 million MNT was added to investment expenses and a project valued at nearly 68.2 million MNT was eliminated from the budget.


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