Parliament passes amendments to 2020 State Budget

Economy
baljmaa@montsame.gov.mn
2020-08-31 18:23:18

Ulaanbaatar /MONTSAME/. At its plenary meeting of the irregular session held on August 28, the Parliament approved draft amendments to the law on State Budget 2020 and other accompanying laws as well as bills on 2019 budget performance, 2021 budget framework statement and budget assumption for 2022-2023. 


The draft amendments to the law on 2020 State Budget eliminated one set of measures from the list of projects, measures and construction development to be funded by the government’s general budget and also made changes to 34 project investments, which resulted in a decrease of MNT 12.7 billion from the projected financing expenditure of the state budget for 2020. In addition, 37 projects which cut in the budget amendment bill, to be financed by state budget were added, and expenditure for another 18 sets of projects were increased, leading the financing expenditure of the 2020 state budget to rise by MNT 12 billion 171 million. 


Other changes made in the 2020 state budget expenditure include additional MNT 560.3 billion allotted to Uvurkhangai aimag’s base budget, MNT 235 million for the operational expenses of the Constitutional Court, MNT 301.3 million for the State Great Khural budget, and MNT 4 billion for the expenses for the repayable net credit under the Minister of Education and Science, as well as cuts of MNT 536 million from the operational costs of the National Audit Office and MNT 4 billion from the operational expenses of the Minister of Education and Science. 


As a result, the total equilibrated revenue is now projected to equal to MNT 9 trillion 730.9 billion or 25.2 percent of GDP, the total spending is at MNT 14 trillion 577.5 billion or 37.7 percent. The deficit of equilibrated balance of the state budget is estimated to be at MNT 4 trillion 846.6 billion or 12.5 percent of GDP.   

 Allowance of MNT 100,000 to each of 1.2 million children aged 0-18 years old until the end of 2020, additional monthly social welfare allowance of MNT 100,000 for a total of 60,000 people, who are eligible for social welfare allowances and 13,300 children with disabilities as well as corporate tax relief allowed to around 105,000 companies with revenues of less than MNT 1.5 billion within the framework of the government’s decision to protect the health and income of people, preserve employment and stimulate the economy during the COVID-19 pandemic. 


The Speaker also highlighted that 47 schools, 62 kindergartens, 27 dormitories, 4 sports complex, 12 sports hall, 41 hospital facilities will be commissioned within 2020.