Cabinet submitted the State Great Khural Resolution on approval of the Socio-Economic Development Guidelines for 2016 to the State Great Khural on April 30th. The document is being discussed by the parliament currently.
Introduction was done by the Head of the Government Office S.Bayartsogt. MP A.Tleikhan made introduction of the Economic Standing Committee Report.
Government is neglecting the numbers when submitting the documents for approval of the Economic Development guidelines.
Cabinet forecasts economic growth in next year to be at 5 percent, while in 2014 Mongolian economy had growth at 7 percent. Also the cabinet foresees to have the inflation within single digit number. As of March 2015 the inflation rate was at 9.3 percent.
The document also provisions the establishment of the Planning Unit under the GoM.
According to the assessments of the GoM the GDP per capita is at USD 4400, unemployment rate is at 7 percent. The same number was at 7.7 percent in 2014.
According to the introduction by S.Bayartsogt, the financing amount to be at MNT 3 trillion from the state budget and MNT 3 trillion in the result of the PPP.
IMF has warned the government of having weak state budget and monetary policy. Moreover, MPs have warned to take this recommendation into consideration and proposed not to raise the Government debt further.
MP R.Amarjargal said: "Government is neglecting the numbers when submitting the documents for approval of the Economic Development guidelines. How much the BoM is accountable? The current management of BoM has led to the current economic difficulties. Speaker of the State Great Khural is defending the BoM. It is time for them to accountable for their actions."
While S.Bayartsogt denied any participation of BoM in developing the Economic Development Guidelines for 2016 document as the Ministry of Finance done all the detailed assessments and those have been discussed by the expanded session of the National Security Council and is to be introduced by PM next Friday. Moreover, he assured that the document depicts the goals of both DP and MPP.
Cabinet submitted the State Great Khural Resolution on approval of the Socio-Economic Development Guidelines for 2016 to the State Great Khural on April 30th. The document is being discussed by the parliament currently.
Introduction was done by the Head of the Government Office S.Bayartsogt. MP A.Tleikhan made introduction of the Economic Standing Committee Report.
Government is neglecting the numbers when submitting the documents for approval of the Economic Development guidelines.
Cabinet forecasts economic growth in next year to be at 5 percent, while in 2014 Mongolian economy had growth at 7 percent. Also the cabinet foresees to have the inflation within single digit number. As of March 2015 the inflation rate was at 9.3 percent.
The document also provisions the establishment of the Planning Unit under the GoM.
According to the assessments of the GoM the GDP per capita is at USD 4400, unemployment rate is at 7 percent. The same number was at 7.7 percent in 2014.
According to the introduction by S.Bayartsogt, the financing amount to be at MNT 3 trillion from the state budget and MNT 3 trillion in the result of the PPP.
IMF has warned the government of having weak state budget and monetary policy. Moreover, MPs have warned to take this recommendation into consideration and proposed not to raise the Government debt further.
MP R.Amarjargal said: "Government is neglecting the numbers when submitting the documents for approval of the Economic Development guidelines. How much the BoM is accountable? The current management of BoM has led to the current economic difficulties. Speaker of the State Great Khural is defending the BoM. It is time for them to accountable for their actions."
While S.Bayartsogt denied any participation of BoM in developing the Economic Development Guidelines for 2016 document as the Ministry of Finance done all the detailed assessments and those have been discussed by the expanded session of the National Security Council and is to be introduced by PM next Friday. Moreover, he assured that the document depicts the goals of both DP and MPP.