Today /October 06, 2015/, Minister of Finance and MP B.Bolor has submitted draft laws to Speaker of Parliament Z.Enkhbold. The draft laws submitted include: 2015 state budget amendment law, 2015 budget amendment law of human development fund, 2015 budget amendment law of social insurance fund, 2015 state budget statement, and 2016-2017 state budget assumptions amendment law.
Considering expected performance of 2015 state budget revenues, next year's main macroeconomic indicators, internal and external economic conditions, and export commodities prices and volumes, 2015 state budget revenues are assumed to fall short; which leads to inevitable amendments into 2016-2017 state budget assumptions law.
Due to economic difficulties and drops in commodity prices at world market, 2015 budget revenues are expected to fall short of projections by around 1 trillion tugrugs. Thus, it is necessary to make certain amendments in 2015 state budget, including practical estimation of state revenues, reduction of projected revenues and reestimation of current and asset expenditures.
Moreover, Speaker of Parliament was introduced: "According to 2015 budget law of social insurance fund, the fund's project revenues of 1.418.7 billion tugrugs were revised as 1.222.4 billion tugrugs while its projected expenditures of 1.484.8 billion tugrugs were increased to 1.546.6 billion tugrugs. These remedies were added in 2015 state budget amendment law." The delayed bond payments in 2015 by the human development fund leads to the reduction of 90.750.0 million tugrugs in state bond payments, which has been also added into the draft law of the budget amendment.
Press and Public Relations Department of the State Great Hural of Mongolia
Today /October 06, 2015/, Minister of Finance and MP B.Bolor has submitted draft laws to Speaker of Parliament Z.Enkhbold. The draft laws submitted include: 2015 state budget amendment law, 2015 budget amendment law of human development fund, 2015 budget amendment law of social insurance fund, 2015 state budget statement, and 2016-2017 state budget assumptions amendment law.
Considering expected performance of 2015 state budget revenues, next year's main macroeconomic indicators, internal and external economic conditions, and export commodities prices and volumes, 2015 state budget revenues are assumed to fall short; which leads to inevitable amendments into 2016-2017 state budget assumptions law.
Due to economic difficulties and drops in commodity prices at world market, 2015 budget revenues are expected to fall short of projections by around 1 trillion tugrugs. Thus, it is necessary to make certain amendments in 2015 state budget, including practical estimation of state revenues, reduction of projected revenues and reestimation of current and asset expenditures.
Moreover, Speaker of Parliament was introduced: "According to 2015 budget law of social insurance fund, the fund's project revenues of 1.418.7 billion tugrugs were revised as 1.222.4 billion tugrugs while its projected expenditures of 1.484.8 billion tugrugs were increased to 1.546.6 billion tugrugs. These remedies were added in 2015 state budget amendment law." The delayed bond payments in 2015 by the human development fund leads to the reduction of 90.750.0 million tugrugs in state bond payments, which has been also added into the draft law of the budget amendment.
Press and Public Relations Department of the State Great Hural of Mongolia