Budget income for 2010 was estimated to be MNT 2.426.8 billion /33.8 percent of the GDP/, budget expense MNT 2.785.4 billion /38.8 percent of the GDP/. Budget loss will be MNT 358.6 billion exactly 5 percent of the GDP. MNT 229.1 billion will be spent for 69 programs with pay-back terms.
Copper price in global market was estimated to be USD 5800 per ton. Total of MNT 80.2 billion will be added to the budget income: MNT 6.9 billion from company income tax, MNT 68 billion from price increase tax, MNT 5.3 billion from mine usage payments.
Minister for Education, Culture and Science will have the most budget as the Parliament budgeted MNT 486.331.3 to the Ministry. MNT 300 million was budgeted for economizing the foreign relations and additional MNT 9.5 billion to implement “Mongolian Livestock” program.
Financial assistance will be given to Arkhangai, Bayan-Ulgii, Bayankhongor, Gobi-Altai, Dundgobi, Zavkhan, Uvurkhangai, Uvs, Khovd and Khuvsgul provinces. The 10 provinces will take MNT 14.292.32 million. Budget income from provincial budgets for the 2010 will be MNT 131.678.3 million. UB will have to centralize the most which is MNT 56.825.8 million to the budget while Gobisumber will give MNT 48.1 billion.
Later on, the Parliament approved the budget of Social Insurance Fund for 2010. MNT 346.846.2 million will be centralized in the fund, while the fund will spent MNT 490.935.3 million. MNT 342.889.7 million will be given to pension fund and MNT 27.504.1 million to allowances and MNT 80.093.8 million for health insurances. The draft law was got 93 percent of approval rate.
Human Development Fund law was also approved by 86.2 percent of the MPs. Income for the fund will be MNT 346.663.3 million. The Human Development Fund will spend MNT 10.906.1 million for health insurance payments and MNT 324 billion in cash. Risk fund of the Human Development Fund will be MNT 11.757.2 million for the next year.
After approving the three laws, the Parliament was presented a draft protocol “Some actions related to the budget” made by the Standing Committee on Budget.
MPs asked questions and gave their suggestions afterwards.
Related to the MNT 1 billion allowance for the Parliament members, MP Kh.Temuujin proposed to create an environment to monitor the MPs to stop them from advertizing themselves by the budget money.
Finance Minister S.Bayartsogt said there will be no MP money next year, but the budget income will be distributed equally to develop the countryside. MPs, budget governor and policy ministries will be in charge of planning the investments for the regions.
“People think MNT 500 million is given to the MPs in cash. It is wrong. We need to explain the citizens about the budget” said the minister. The Standing Committee’s draft protocol failed to get majority votes and was sent back to the committee for another discussion.
Parliament Speaker D.Demberel thanked the MPs and working groups for working hard to make the budgets.
“Investment amount was raised to more than MNT 400 billion. We have planned to follow a unified policy for welfare programs. Government now has the duty to make the preparations before January 1st” said D.Demberel.
