FINANCE MINISTER ABOUT 2015 BUDGET LAW

Ulaanbaatar /MONTSAME/ The Minister of Finance Ch.Ulaan participated in the “30 minutes of Minister” meeting on Thursday, talking about a draft law on the 2015 state budget. The submitted to parliament draft has three features, he noted. Essential rights of exploitation of budgets are transferred to localities' authorities, the capital for salaries, pensions and allowances are increased 2.5 times or by MNT 500 billion, and this goal will be implemented in several phases without an impact on the inflation rate, and the expenses out the budgets--sources of the “Chingis” bonds, the Development Bank of Mongolia and capitals of soft-loans--will go to the state budget, the Minister said. The law creates for the public conditions to monitor the budgetary expenses in frames of the law on “glass” account. It also will not increase the tax sizes and will not create additional taxes, he highlighted. It is projected that the state budget will accumulate revenue of MNT 7.2 trillion in 2015, the expenses of 8.4 trillion will be financed. Investments for social development will be augmented, he added.