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Economy / Featured News / Mongolia News / Politics / October 9, 2014

The State budget will include Chinggis bond’s first payment

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Fall session of the Great Khural will discuss matters relating to the State budget, social welfare insurance funds, and monetary policy. The country’s total budget income fell short of projected goals in the first eight months of the year by MNT 605.8 billion, or by 13.6 percent.
According to the National Statistical Office of Mongolia, the national budget balance income and subsidies reached MNT 3.798.0 billion, while expenditures and loan repayment reached MNT 3.951.0 billion. This resulted in an insufficient national balance of MNT 153 billion.
The Speaker of the Parliament, Z. Enkhbold, said the 2015 State budget and monetary policy should be considered carefully, since repayment is due of the Chinggis and Samurai bonds, as well as the bond repayment of the Development Bank on the horizon. He added that it was important to legalise the Debt Management Law as soon as possible.
The autumn session of parliament will discuss important law proposals, such as  additional changes and revisions to the Taxation Law and the Trade Law. Remaining discussion from the spring sessions will also resume. These will include regulations on Road and Transport policy implementation as well as the renewal of the government’s policy on education and medicine.
SOURCE: Mongolian Economy




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