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BUDGET 2022: Underground mine of Oyutolgoi and Power Plant of Tavantolgoi will start

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E.Oyun-Erdene
2021-10-07
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BUDGET 2022: Underground mine of Oyutolgoi and Power Plant of Tavantolgoi will start

The Ministry of Finance reported that ECONOMY RECOVERY reform will be made by starting developing projects and supporting investments. In the framework, actions will be taken to facilitate trade and business, increase exports, improve the foreign trade balance and create new jobs.

Within the framework of supporting foreign trade and increasing exports, the functions of the Border Inspection Department and the Export and Import Impose Department will be integrated into the custom agency. Documents which are required from foreign traders and inspections will be reduced, and goods will be transferred through the border easily. 

Customs services will be provided with modern equipment and trade will be supported by reducing the time and cost of individuals and businesses in foreign trade. Underground mine of Oyutolgoi, Power Plant of Tavantolgoi, oil product transferring pipeline, Bogdkhan railway, large projects of railway and autoroad will be started in 2022.

Balanced revenue of State Budget /by MNT Trillion/:

  • 2018- 10.2
  • 2019- 12
  • 2020- 10.4
  • 2021- 13.7
  • 2022- 16.4

Budget revenues to GDP ratio is 35 percent, the highest in a decade.

The Ministry of Finance reported that ECONOMY RECOVERY reform will be made by starting developing projects and supporting investments. In the framework, actions will be taken to facilitate trade and business, increase exports, improve the foreign trade balance and create new jobs.

Within the framework of supporting foreign trade and increasing exports, the functions of the Border Inspection Department and the Export and Import Impose Department will be integrated into the custom agency. Documents which are required from foreign traders and inspections will be reduced, and goods will be transferred through the border easily. 

Customs services will be provided with modern equipment and trade will be supported by reducing the time and cost of individuals and businesses in foreign trade. Underground mine of Oyutolgoi, Power Plant of Tavantolgoi, oil product transferring pipeline, Bogdkhan railway, large projects of railway and autoroad will be started in 2022.

Balanced revenue of State Budget /by MNT Trillion/:

  • 2018- 10.2
  • 2019- 12
  • 2020- 10.4
  • 2021- 13.7
  • 2022- 16.4

Budget revenues to GDP ratio is 35 percent, the highest in a decade.

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E.Oyun-Erdene
Category
Economy
Published
2021-10-07


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