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Events
Authorities cut budget on air pollution reduction www.zgm.mn
This week, the Parliamentary Standing Committee on Budget held the second discussion of the 2019 Budget bill and cut a total of MNT 271.2 billion expenditures from several sources, such as the allocation to measures on air pollution reduction, education, customs reform and mortgage loan financing. Without questioning the expenditure cut, the Parliament passed the bill on to the final discussion yesterday. Specifically, the allocation to air pollution reduction actions was cut by MNT 80 billion. The proposed amount of the draft was MNT 85 billion; thus, the financing for air pollution reduction action is currently lower than this year’s allocation of MNT 16 billion. Furthermore, another MNT 15 billion was reduced from the initial amount of MNT 115 billion. The budget cut will be spent on 14 projects and programs to be implemented in 2019. On the contrary, the committee did not approve the budget cut of Local Development Fund by MNT 27 billion from MNT 144 billion and increasing child money incentives by MNT 27 billion planned for supporting mortgage program.
Standing Committee disapproves proposal to cut Local Development Fund budget
At the Parliament’s plenary session, the Chairman of the Democratic Party and MP Erdene Sodnomzundui presented the suggestions of DP’s Caucus in the Parliament. Mr. Erdene addressed, “The 2019 Budget bills are being discussed when the economic situation, outlook of foreign markets and the monetary policy objectives remain unpleasant for Mongolia’s economic growth. The proposed 2019 budget bill raised budget revenue by 33 percent and expenditure by 20 percent, of which current expenditure raised by 10 percent and investment costs were increased dramatically by 66.7 percent. Budget has to be accessible to the public. I demand and plead for the Parliament members to ratify a bill that will set the right foundation and mistake-free budget for the future.”
Key changes of the second discussion:
Allocation to the Minister of Finance on financing and utilization of foreign loans cut by MNT 122 billion;
Financing for measures on air and environment pollutions cut by MNT 80 billion;
Financing for Education Loan Fund cut by MNT 42 billion;
Allocation for the general expenses of buildings, facilities, maintenance and equipment of General Customs Administration cut by MNT 12 billion;
Financing for mortgage loan program cut by MNT 15 billion, to MNT 100 billion.
Published Date:2018-10-26
