Amendments to budget laws approved

Ulaanbaatar /MONTSAME/ Submitted drafts of amendments to the State Budget for 2015, to the Budget of Human Development Fund, and to the Budget of Social Insurance Fund were approved by the State Great Khural on January 23. The second session of the parliamentary plenary meeting started 8.35 pm on Friday to run the third and fourth readings of the above amendments. The budget Standing committee's introductuon was made by D.Gankhuyag MP. He said the revenue of the Master Budget of Mongolia is estimated to be six trillion 632 billion and 600 million Togrog, or at 27.6 percent of the total GDP, the expenditure is estimated to be seven trillion 837 billion and 400 million, or 32.7 percent of the total GDP, which results in a deficit of one trillion 204 billion and 800 million. Reflected in the budget clarification are expectation of increased revenue from the special taxes of auto-gas and diesel fuel, income taxes from entities and individuals, and income taxes on private properties, expenditure on benefits for “Glorified Mothers” in accordance with the related laws, increased expenditure on benefits for pregnant and breastfeeding mothers, and on pensions. The expenditure cuts were required, according to the clarification, on documentation of state authorities, stationery costs, foreign and domestic commissions, fuels, trips, communications, publications, advertisements, receptions, and other events reflected in the state administrators’ action plans. These cut downs are estimated to save 467.2 million Togrog. In addition, events and activities that were estimated to cost 68 million 161.5 thousand were omitted from the budget expenditure. No comments and questions related to the above were raised, thus, the third reading was concluded. On the fourth reading, the Speaker Z.Enkhbold read the proposed amendments in details. The amendments to the State Budget for 2015 and to the budget of Human Development Fund for 2015 were approved with 91.1 percent vote, while the amendments to the budget of Social Insurance Fund were approved with 84.4 percent vote.