The SGK approved the annual budget of 2014 in the designated time within 15th, November. Final discussions on 2014 Budget of Mongolia, 2014 Social Insurance Fund, 2014 Human Development Fund laws are finalized and approved. The budget income is set to be MNT4,676,370.5 million, and spending is set at MNT5,594,785.9 million. Also, the investment, maintenance, and equipment budget for the year is set to be MNT143,275.5 million. The Budget Sustaining Fund is set to accumulate MNT29,799.6 million in accordance with the Fiscal Sustainability Law.
The deficit of the coming year’s will be covered by newly issuing bonds amounted at MNT1.4 trillion, and MNT289.97 billion from foreign debt through various projects. Also, the next year’s government guarantee is capped at MNT2.5 trillion.
Support for local province budgets will be MNT159.17 billion, and income for local provincial development fund will be MNT71.3 billion, and income transfer from consolidated development fund to provincial development funds will be MNT284.4 billion.
Plans and targets for budget general governors, planned constructions are approved in the appendix of the budget. In the coming year, MNT2.56 trillion will be spent on projects, and MNT1.14 trillion on construction.
The 2014 Fiscal Budget has been approved by 79.2%, followed with Social Insurance Fund Law and Human Development Fund Law.