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MNT 140 billion required for pension increase of MNT 100 thousand resolved www.gogo.mn
In relevance of the State budget 2024 approval, the Ministry of Finance and the Standing Committee on the Budget of the Parliament have given the following information.
D.Togtokhsuren, Head of the MPP Group in the Parliament, said, “The budget income has been increased by a total of MNT 590 billion which improved the budget balance. Also, budget expenditures were reduced by about MNT 300 billion and the amount of investment increased slightly.
As for social welfare, the issue of pension increase has been resolved. It was estimated to increase by 10% starting from April 1, 2024. Citizens who receive low pensions are the most affected by inflation. Therefore, it is considered correct to increase the pension MNT 100 thousand. And a total of MNT 140 billion required for pension increase of MNT 100 thousand has been resolved”.
The State Budget 2024 was finally approved by the Parliament on November 10. With the approval of next year's budget law, the amount of balanced budget income is MNT 25 trillion, and the amount of expenditure is MNT 27 trillion. Next year, it was estimated that Mongolia's economy will grow by 7%, coal exports will reach 60 million tons, inflation will decrease by 8.5%, and GDP will reach MNT 74 trillion.
Published Date:2023-11-15
