The Democratic Party (DP) has more clearly outlined its financial objectives for next year’s budget and the national economy.
The Ministry of Economic Development and a working group from Parliament have presented a plan for the first USD 1.5 billion from the proposed USD 5 billion worth of bonds sold by the Development Bank of Mongolia. They proposed those funds should be used to begin construction of the Sainshand industrial complex as well as 1,800 kilometers of railroads. It also proposed that some of those funds be used to provide loans for small-and medium-sized enterprises.
At the meeting DP members stressed the importance of stabilizing the prices of goods. Thus far the government has brokered deals with businesses to maintain the price of flour at MTN 550 per kilogram as well as regularized meat prices.
Members also discussed the final MNT 1 million payments to be distributed to the elderly and disabled people, noting that social and economic development are tightly linked. While discussing an amendment to the education law regarding funds allotted for teachers’ salaries, it opted to grant and additional MNT 30 million compared with the initially proposed MNT 150 billion, and that it would be shared with health care workers.