Ulaanbaatar
Minister of Labor meets World Bank Country Manager
Society
Ulaanbaatar /MONTSAME/ Minister of Labor and Social
Protection S.Chinzorig met with World Bank Country Manager for Mongolia, East
Asia & Pacific Andrei Mikhnev on April 10. The sides exchanged
views on the ways to overcome the economic impacts of the Covid-19 pandemic
with joint efforts.
Minister S.Chinzorig informed the Country Manager that the
Government of Mongolia, to protect the livelihoods of citizens amid the virus
crisis, has decided to exempt private companies, their workers, and
self-employed people from social insurance contributions, waive personal income
tax, entitle businesses with revenues of less than MNT 1.5 billion to
exemption from corporate tax for six months, and monthly pay MNT 200 thousand
to every employee of private companies keeping their workers on their job
despite
the difficulties in their businesses and declining revenues, and raise monthly
child allowance by MNT 10 thousand for three months.
He also noted that the pandemic is burdening the state
budget and heavily affecting unemployed people, members of households with
unstable income, elders, persons with disabilities, children of low-income
households and expressed his hope that the World Bank will work together with
Mongolia in resolving these difficulties.
Mr. Andrei Mikhnev said that it is feasible to
appropriately support the provision of monthly allowance for children as well
as those who voluntarily pay social insurance contributions by making
additional financing possible through some changes in the World Bank’s ongoing social
protection projects in Mongolia.
