Bill on ratifying general credit agreement submitted

Ulaanbaatar /MONTSAME/ The Minister of Economic Development N.Batbayar submitted Tuesday a draft law on ratifying a general credit agreement which has been established with the Japan Bank for International Cooperation (JBIC). The government of Mongolia and the JBIC signed the general credit agreement of JPY 8 billion on June 6, 2013. If this agreement is adopted, a condition will be created to implement vital projects for the Mongolian economic development. In addition, the agreement has a great importance for introducing the latest techniques, technologies and services of Japan in Mongolia and for augmenting kinds and sizes of export products to Japan, said the Minister. The same day, parliamentarians Ts.Davaasuren and G.Batkhuu submitted a draft law on legal status of budgetary service. Some faults have been detected in the 2013 state budget when discussing it at parliament, for example, it reflects two general managers of budget for one object in the list of projects and measures to be done with investments. Thus, the draft law aims to abolish such faults, the MPs said.