Ulaanbaatar
2022 State Budget approved with a deficit of MNT 2.4 trillion
Economy
Ulaanbaatar /MONTSAME/. The State Great Khural has approved the 2022 State Budget with MNT 16.4 trillion in total revenue and MNT 18.2 trillion in total expenditure.
More specifically, at the plenary session of the State Great Khural today on November 12, the fourth discussion took place for the bills on the 2022 State Budget, the 2022 Budget for the Social Insurance Fund, the 2022 Budget for the Health Insurance Fund, and the 2022 Budget for the Future Heritage Fund.
By cutting on costs and making changes to the current financing mechanism for public services, the Government has set several major objectives such as improving the accessibility of quality education and healthcare services, increasing the number of job opportunities, increasing the profits of Future Heritage Fund, and reducing traffic congestion in the capital city.
With a deficit of MNT 2.4 trillion (5.1 percent of GDP) for the 2022 State Budget, the Government estimates the country’s economy to grow by 5 percent in the coming year.
