2013 Budget Law approved

Nov 9 • Business, Economy, Government, News • 1255 Views • 1 Comment on 2013 Budget Law approved

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Parliament of Mongolia passed the 2013 state budget at its session held on Thursday afternoon, 08 November 2012. 76.9% of the MPs who were present at the session supported the budget law.

It is projected that consolidated budget revenue is to be MNT 7.08 Trillion, and it is equivalent to 40.2% of gross domestic product, down from 45% in 20111. However, the state budget spending will be MNT 7.44 Trillion, making the deficit at MNT 356 Billion. The budget deficit is going to be at 2% of the GDP, and therefore it meets the requirements specified in all the budget related laws and regulations.

It is also planned that Ulaanbaatar city will contribute MNT 3.7 Billion to the local development fund in 2013, whereas Orhon and Umnugovi provinces are expected to provide with MNT 2.6 Billion and MNT 23.6 Billion to the fund, respectively.

It can be said that a third of the budget is to be investment, another third is government consumption, and the last is transfer payments. One of the main weaknesses of the 2013 the budget is that it contains numerous investment projects that has no, or little feasibility studies conducted. Therefore, it is hard to see whether the proposed development projects will be economically viable in the long run.

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One Response to 2013 Budget Law approved

  1. Tsog says:

    Төрийн албан хаагчдын англи хэлний орчуулах хэрэглээний ур чадварыг хөгжүүлэх 100 цагийн сургалтанд урьж байна. Хичээлд дотоод, гадаадад болж байгаа олон улсын хурал, семинарын материалуудыг ашиглах, хэрэглэж ойлгож сурах, олон улсын байгууллагуудаас гаргаж байгаа бодит материалуудыг Монгол хэл рүү орчуулах, Монгол хэлнээс Англи хэл рүү энгийн болон албан материалуудыг орчуулах арга чадвар, техникүүдийг эзэмшүүлэх, түүнчлэн англи хэлээр зөв цэвэрхэн, аялгуутай ярих ярианы хичээлүүд уг сургалтын хөтөлбөрт орсон болно. 5-с дээш хүнтэй нэг албан газарт багш очиж заах боломжтой. Сургалт 2012 оны 11-р сарын 16-нд эхэлнэ. Хаяг: Сүхбаатар дүүргийн эсрэг талд Цэцээ гүн № 201 утас 94967058

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