2021 state budget bill presented to SpeakerPolitics
Ulaanbaatar /MONTSAME/. On September 30, Minister of Finance Ch.Khurelbaatar presented the bills for the state budget, the budget of the Social Insurance Fund, and the budget of the Health Insurance Fund for the year of 2021 as well as relevant other bills to Speaker G.Zandanshatar.
Noting that the budget bill was developed by taking into consideration the 2021 budget framework statement and budget assumption for 2022-2023 that was approved by the parliament on August 28, Finance Minister highlighted that the bill fully meets the requirements stated in the Law on Fiscal Stability.
The Government has planned to implement the following policy for the 2021 State Budget:
· reduce the budget deficit that was created due to measures implemented during the pandemic, provide stability, and implement a counter-cyclical fiscal policy,
· continue to implement some measures on protecting the citizens’ income and supporting the operations of entities during the pandemic until borders are opened or for the first half of 2021,
· continue to support the business environment without increasing tax, increase export through customs reform, enhance tax registration and involvement by using technological advancements, increase the profits of state-owned enterprises and use all resources for increasing budget revenue,
· match operational expenses to the 2021 budget framework statement and budget assumption for 2022-2023, start the reform in the sectors of healthcare and education, and mobilize social insurance and protection services in protecting citizens’ income and target group during the pandemic.