Budget frames statement supported

Ulaanbaatar /MONTSAME/ The cabinet of ministers Saturday supported the 2014-2016 budget frames statement and decided to submit it to parliament. The same day orders were given to general managers of budget--not to exceed expenses and staff numbers of budgetary organizations, not to make limitless the incentives given by the state in these institutions, and to link in a proper and fruitful way the state-financed investment projects and programs with the investments financed by the "Chingis" bonds, Bank of development and regional development funds. In determining the budget's middle-term policy, the aims have been put to limit the budget expenditure increase, calculating all risks possible to occur in Mongolia economy, to decrease step-by-step the budget loss volume, to create a stable source of budget revenue by forming a taxation environment that supports an economic growth, to limit expenses flow other than salaries, pensions and social care money, and not to increase an inflation triggered by demand. The statement is to support a stable and high economic growth by providing for a long-term a macro economy and the budget's accuracy. The tendencies that a production of copper and gold deposits will grow and that an extraction of oil and ore will go up, will influence the mining sphere production and give impetus to economic growth, and this will make the economy reach 16 percent this year. The inflation has been projected to be relatively stable, at some six percent. General government budget's balanced revenue and an aid's sum has been reflected to reach 7,270.0 billion togrog or 35 percent of the GDP in 2014, 8,210.6 billion togrog or 32 percent of GDP in 2015, and 9,456.9 billion or 30 percent of GDP in 2016. The government expenditure will be 7,270.0 billion or 35 percent of GDP in 2915, a total sum of the expenditure and loans will be 8,210.6 billion or 32 percent of GDP in 2015, and 9,456.9 billion or 30 percent of GDP in 2016. D.Enkhbileg