DRAFT LAWS AND RESOLUTIONS SUBMITTED

Ulaanbaatar, Mongolia /MONTSAME/ The Minister of Finance D.Khayankhyarvaa submitted Thursday to the Vice Speaker of parliament N.Enkhbold the parliament draft resolutions on approving the 2011 budget execution and allowing the government to issue securities, and draft amendments to the laws on value-added tax (VAT) and excise tax. The revenue of the 2011 budget execution has been approved at MNT 3,351,389.0, and the expenditure--at MNT 3,621,676.2. When the draft resolution is approved, the budgetary profit will be determined by calculating the sizes of revenue and expenditure for 2011. The draft resolution on allowing the government to issue securities aims to fully exploit the industry of leather products based on advantages and quality of Mongolian livestock, to promote the competitveness of Mongolia in the leather product industry by processing the raw materials in Mongolia and penetrating them into the global market, and to stabilize the income of herdsmen. A bill on annulling some laws was submitted to the Vice Speaker as well. B.Khuder