Finance Minister submits bills on next year government budget

Ulaanbaatar /MONTSAME/ Minister of Finance B.Choijilsuren presented to Speaker M.Enkhbold the bills on 2017 Government Budget, Budget of Social Insurance Fund, Budget Framework Statement, 2018-2019 Budget Assumptions, and other related draft documents, on September 30. Due to the assumptions that the global market prices of mining products produced in Mongolia are not rising considerably in the approximate future, the government budget revenue is not expected to increase by significant amount. In accordance with the Law on Budget Stability, equilibrated deficit of the government budget must not exceed 18.5% in 2016, 9.9% in 2017, 7.5% in 2018 and 5.5% in 2019, and must not see deficit from the year 2020. Applying the principle, the budget deficit in 2017, as set out in the draft law, will not exceed MNT 2.589 trillion.