Ulaanbaatar
President submits draft resolution to support every household with MNT 1 million
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on january 8th, President Kh. Battulga has submitted a draft parliamentary resolution to distribute support of MNT 1 million to every household from the money withdrawn from offshore accounts.
In connection with COVID-19 prevention and combat, individuals and businesses' activities have been restricted for nine months and halted for a total of 38 days, which subsequently creates a risk for livelihoods to lose incomes or have no earnings at all, and national enterprises to go bankrupt. The country's economy is in a state of disrepair.
For this reason, President Battulga drafted a parliamentary resolution on ‘Special measures to overcome the impoverishment and social and economic difficulties caused by the coronavirus pandemic’ to implement the policy and measures to provide a ‘MNT 1 million per household’ support, and submitted it to the Speaker of the Parliament G.Zandanshatar today.
The draft resolution states to allocate MNT1 million per household, of which MNT 200,000 should be given in cash and the remaining MNT 800,000 by a voucher for the purchase of goods and products, except for alcohol and tobacco, from only domestic producers, and resolve the required financing with offshore sources. In doing so, the money withdrawn from the offshore accounts shall be deposited in a particular government account at the Bank of Mongolia.
To overcome the pandemic, the President considers that it needs to take optimal and practical measures such as providing cash allowance to citizens and promoting manufacturers and businesses through the purchases, and promptly implement actions by learning experiences of world countries.
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