Economic standing committee conducts 2nd review of 2019 fiscal budget

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  • Oct 23,2018
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The Parliament’s Standing Committee on Economy met on October 23 to conduct the second review of the 2019 state budget, the 2019 budget for the Social Insurance Fund and the 2019 budget of the Health Insurance Fund.

During the meeting, Minister of Labor and Social Protection S.Chinzorig reported that the government will carry out a policy of “digital, transparent and effective” budget throughout next year.

According to the minister’s reports, the government will take measures for reducing deficit and debt burden; tighten monitoring of exporting and importing products, especially mineral products; increasing budget revenues; carrying out a reform of budget spending; and enhancing efficiency of the state budget.

The minister noted that to increase real incomes of people, the government proposed to include a budget of 20 billion MNT in the Employment Promotion Fund.

During the meeting, Minister of Construction and Urban Development Kh.Badelkhan reported on some crucial development projects.

The minister said, “Many people ask the government questions about continuing the low-interest mortgage program, and the government budgeted financial resources of 115 billion MNT in the draft 2019 state budget to resume the program.”

“We launched projects to build sub-center sewer main collector pipes-resettlement plans in the most populated ger districts in Ulaanbaatar, such as Bayankhosuu and Dambadarjaa in cooperation with the Asian Development Bank and the European Investment Bank in order to address the greatest challenges facing Ulaanbaatar residents.”Kh.Badelkhan stated.