Introduction runs of "Macroeconomic model–T21"

Ulaanbaatar /MONTSAME/ A workshop was held Tuesday at the State House to introduce the "Macroeconomic Model -T21" with a aim to improve a development of economic policy of Mongolia. It was developed by Millennium Institute scholars with a support of the United Nations Development Program (UNDP). Present at the event were a head of the Standing committee on economy J.Batsuuri MP, a head of MPP faction S.Byambatsogt MP, a head of DP faction B.Garamgaibaatar MP, the country manager of the UNDP to Mongolia Thomas Erikson, the Millennium Institute director for modeling and analysis Weishuan Chu, along with the project group and policy planning professionals from several Ministries. The head of the Standing committee on economy J.Batsuuri noted in his opening remarks that this model was re-adjusted to the Mongolian economic environment. Mr Byambatsogt informed the gathered that a working group has been set up for developing Mongolia’s long-term development policies and strategies and that the group is led by the heads of parliamentary factions of three main political parties. Also, a sub-group is operating for over a year now at the National Development Institute, collaborating with the State secretaries of related Ministries, he said. The parliament member emphasized that the focus should be given to the coherence and efficiency of these groups’ activities. The introduction of the T21-model for Mongolia was made by Mr Weishuan Chu. This model has been facilitated with economic, social and environmental assumptions, with a strict coherence, he said. The model is for a use when developing budget estimations and other short- and medium-term plans, and has been introduced to Mongolia in 2012. "The T21 is utilized in over 40 countries for their medium- and long-term plannings," he added.