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2017 BUDGET AMENDMENT APPROVED

2017 BUDGET AMENDMENT APPROVED
14
Apr

2017 BUDGET AMENDMENT APPROVED

On April 14, Parliament approved amendments to the law on 2017 State Budget and Law on Social Insurance Fund. The amendments sets the 2017 state revenue projection at MNT6.035.7 billion or 23.3 per cent of GDP and expenditure at MNT8.750.2 billion, 33.6 per cent of GDP, with a deficit amounting to MNT2.714.4 billion, 10.4 per cent of GDP. That means the Parliament increased the revenue by MNT20 billion and lowered the total expenditure and pure loan amount by MNT39.6 billion, including operational cost by MNT 26 billion, and making budget deficit down by MNT59.7 billion than the Government proposal. 

Total subsidies to local budget from the state budget will be MNT132.183.7 million, while revenue to the state budget from local budgets will be MNT206.308.3 million. 

Regarding the 2017 Social Insurance fund, its revenue will be MNT1.999.863.5 million and its expenditure will be MNT1.891.751.5 million.