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Events
L. Oyun-Erdene: Every Citizen Will Receive 350,000 MNT in Dividends www.gogo.mn
A special meeting of the Government was held today, December 20, 2024. Following the meeting, the Prime Minister delivered an announcement to the public, outlining the key decisions.
Prime Minister L. Oyun-Erdene marked the 100th day since the Government's action plan was approved. As of December 20, 2024, Mongolia has achieved a historic milestone by exporting a record 81.8 million tons of coal.
The state budget for 2024 has generated a surplus of 1 trillion MNT, of which 50% will be allocated to the Stabilization Fund. The National Wealth Fund has accumulated a tangible reserve of 4 trillion MNT, opening up opportunities to invest this capital for growth.
A total of 495 billion MNT has been deposited in the National Wealth Fund, translating to savings of 135,000 MNT in each citizen's account. By law, these funds are designated for use in the healthcare and education sectors. Citizens can check their savings via the e-Mongolia platform.
The Erdenes Tavan Tolgoi company has reported profitable operations. As of today, every citizen is eligible to receive 350,000 MNT in dividends. Unlike previous years, when dividends were distributed in March or April, the Government has decided to issue them during the winter months, considering current needs.
Previously, payouts of around 100,000 MNT had minimal impact on inflation. However, larger payouts of 350,000 to 500,000 MNT carry significant inflationary risks. To mitigate this, the dividend will be distributed in three installments. Considering issues like air pollution, the first installment will match the amount already saved in the Wealth Fund, which is 135,000 MNT.
In accordance with the 2024 financial report, an additional 135,000 MNT will be paid to each citizen as dividends in January or February 2025, adhering to the law. These funds will not be used for any other purpose.
Secondly, the Prime Minister acknowledged that Ulaanbaatar’s air pollution and traffic congestion have reached a critical level. Consequently, a heightened state of readiness has been declared. To urgently address these pressing issues, a special legal framework is required in collaboration with Parliament. This framework will be submitted to Parliament for discussion starting next Monday.
Published Date:2024-12-20
