Ulaanbaatar
Draft Laws on the 2025 State Budget of Mongolia Approved
Politics
Ulaanbaatar, November 11, 2024 /MONTSAME/. During its regular session on November 8, 2024, the State Great Khural of Mongolia finalized and approved the draft laws on the 2025 State Budget of Mongolia.
Specifically, 68 members of Parliament present at the session approved the draft law on the 2025 State Budget of Mongolia and the draft law on the 2025 Sovereign Wealth Fund, while 71 members approved the draft law on the 2025 Budget for Social Insurance Fund and the draft law on the 2025 Budget for Health Insurance Fund.
The draft law on the 2025 State Budget of Mongolia stipulates MNT 23,140,589.3 million to be generated for the balanced state budget for 2025 while the expenditure budget is MNT 26,485,278.0 million. Moreover, MNT 3,932,432.9 million will be allocated to finance investment projects, measures, and construction projects in 2025 while the maximum amount for government-issued debt guarantees for the 2025 fiscal year is set to be MNT 3,500,000 million.
After approving the draft laws on the 2025 State Budget, the Parliament of Mongolia approved the draft Resolution on “Certain Measures to be Taken in Connection with the Adoption of the Draft Law on the 2025 State Budget” in the first reading. According to the draft Resolution, the Government of Mongolia is instructed to submit the draft budget adjustment to the Parliament by December 2024.
In connection with the adoption of the draft laws on the 2025 State Budget, Chairman of the State Great Khural Amarbayasgalan Dashzegve delivered a speech. In his remarks, Chairman Amarbayasgalan urged the Government to improve budget planning to ensure the effective and efficient spending of taxpayers’ money, properly assessing the social and economic impacts, and ensuring alignment with economic policies.
