О.Chuluunbat: The worst version can bring 1 billion US$ to Mongolia

Oct 9 • Economy, Finance, Government, Interview, News, Politics • 809 Views • No Comments on О.Chuluunbat: The worst version can bring 1 billion US$ to Mongolia

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MP O.Chuluunbat was interviewed regarding to the budget modification of year 2008 and general budget of year 2009.
Q: You said that the budget modification was quite impressive. What was the reasoning of your conclusion?
MP O.Chuluunbat: Because our budget was calculated without big loss. It is important for Mongolia.budget loss was 3-4% in the last 10 years and 5-6% in mid 90s. if there will be loss, then investors and even our domestic business community will conclude that this Government cannot manage its management. If you have 1000 MNT salary but you borrow 1100 or 1200 MNT from you friends, then this family has very poor management on money. Exactly like this, there was time that our budget management was poor. Therefore, I thought that this is very good proposal because it balances our budget. In order to attract big money from abroad, we shall pursue correct monetary and budget policy, according to the world market rule of business and investment. Then we will be appreciated by others.
Q: Copper commodity price is decreasing. Will it bring negative effect on our economy?
MP O.Chuluunbat: Cerntainly, it will affect in certain extent. Our income comes from metals such as copper and gold. It will be connected with these metals in the future. If these commodity price decrease in the world market, it certainly take negative impact on our economy. But it was not because of the fault of Government or us. Once the world financial market in crisis and turbulence, the production will decrease and its raw material demand will become low. Purchase will decrease also. China is the main market for our copper. Also China has become a part of the world economy. In relation to the world economy, Chinese production tends to decrease. It will take effect on our copper sales.
Q: So, is there any measures to fill this loss up?
MP O.Chuluunbat: Immediate realization of our major mining project is requied. Unfortunately, we are eating each other through endless debate and suspicious minds. Mongolian rating is decreased by the foreign agencies. They think that the development of Mongolia heavily depends on the new mineral law adoption. But we lost 3-4 years without adopting mineral law of Mongolia. The main reason was not the issue of whether law is suitable for the current situation or not, but it was on who to take the whole jackpot. One part wants to take part in the project and another is to gain some profit from it. The worst version of the law can draw income of 1 billion US$ at minimum. One group wants to take part in the project, next one is to get more project and the last one is to insert new project.
Q: So, according to your observation, the new Mineral Law is not adopted because of the conflict of interest?
MP O.Chuluunbat: The conflict of interest is only between few politicians. Basically this law is very beneficial for the people of Mongolia, in the case of any version is adopted. But one part wants to gain more power on it and put obstacle on it. Otherwise there is no obstacle in adopting new mineral law.
Q: So, can every citizen get 1.5 million MNT?
MP O.Chuluunbat: It will be studied closely. Cash distribution is not necessary. As I mentioned earlier, we learn to play according to the rule of world market. We shall compose the country with clean and tidy monetary policy and promising economy for the foreign investors. Then we can make money and draw investment.

Q: Can inflation be decreased down to 12%?
MP O.Chuluunbat: Yes it can. It is possible if the Government pursue good policy. The only issue is that whether is can or not.
Q: Social welfare expense is high. Do you agree with it?
MP O.Chuluunbat: Basically, people who deserve it, must be benefited. 90 thousand MNT is small for the pensioners. Therefore, their pension must be increased. But salary of 350 thousand MNT for the state officials is high. Over 130 thousand people work in the Government.  But 1.2 million people are working in the private sector. Our salary system is faulty. In other countries, private sector income is much higher than budget beneficiary ones.  Tax is collected from private sector to fund the budget beneficiary ones. It is not fair for those tax-payers if to give more salary than they earn after taxing them heavily.
Q: In relation with the above-mentioned issue, is there any possibility to give 500 thousand and 1 million MNT for mother with order* (mother with order is those mothers with 4 or more children).
MP O.Chuluunbat: Yes, there is. As I mentioned earlier, we are wasting money for unnecessary things. It is good to spend money for those mothers with many children and pensioners. But it is no good to spend on repairing of schools, hospitals and cultural clubs and increasing budget beneficiary officials. Why need to give money for those who can work? I support children money, but not its way to distribute. Many parents in countryside are using their money for alchohol and clothing for themselves. But the money is not going to the target people. If the money reached to its rightful owners, then these social problems such as school drop-outs, birth loss and children crime.
Q: Recently the money for cashmere was supported by the parliament. Do you support it as well?
MP O.Chuluunbat: This issue is already solved. The parliamentary resolution is already made on May 2008. Therefore, there is no way to avoid it. If don’t reach its word, then there will be pursued wrong standard in there future. Even though it was wrong resolution, it must reach its word. Major political party can not lie to its people.

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