Submitted by MONTSAME on

The plenary meeting of Mongolian parliament held last Friday adopted the draft law on 2016 master budget and approved the 2016 basic directions of the fiscal policy after running its final discussion.
According to the law, a net revenue of the master budget is expected to be over 7000 billion Togrog, which is equal to 25.4% of the GDP, total expenses are expected to be about 8000 billion togrog which is equal to 28.8% of the GDP and total budget deficit is expected to be 940.5 billion togrog which is equal to 3.4% of the GDP in 2016.
The plenary meeting has also passed some bills submitted the draft laws on 2016 budgets of the Social Insurance Fund and the Human Development Fund after their final discussions.

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