Adopted the budget execution and modification

Oct 19 • Economy, Finance, Government, News • 466 Views • No Comments on Adopted the budget execution and modification

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Election reform and change of structure are required.

MP D.Zorigt, the Deputy Head of Sub-Standing Committee on Budget Expenditure, presented its comments and conclusion on budget expenditure. The sub-committee emphasized the audit report that spending of saved amount 6.7 billion MNT from the budget of year 2006 for the year 2007, funding was made in part due to the incomplete budget investments and due to the court decision, the fund allocated for compensating the victims of Credit and Saving Cooperatives. In addition, sub-committee concluded that in the last year the budget execution was profitable in terms of balance sheet, but in terms of its quality and result, it is failed to bring positive results in solving the most critical social issues that were accumulated. The committee suggests the budget expenditure reform, but in order to achieve it, it advises urgent reform in election and its structure.
It also noted that the general manager of budget must take measure on those who breached the law. Moreover, the general manager must report its budget to the State Great Khural and update the State Great Khural at the end of the first half of each year. It concluded that this direction must be given to the Government.
After the hearing, there were less comment and question from MPs and the budget execution of year 2007 of Mongolia and Financial Statement of the Government was adopted.
The budget of General Manager has increased.
Budget modification of this year, which has been discussed since the beginning of this fall, was adopted during this session. MPs discussed this issue through the first, second and third discussion, therefore this discussion was short. The budget law of year 2008 of Mongolia, amendment law on budget of 2008 of the Mongolia Development Fund and the draft law on Social Security Fund Budget 2008 were adopted.

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