May 29, 2018


Ulaanbaatar /MONTSAME/ A ‘Higher Engineering Education Development Project’ ...
May 22, 2018

Mongolian Innovation Week 2018 kicks off

The Ministry of Education, Culture, Science and Sports is hosting the fourth ...
May 29, 2018

Sharp Corporation to build a solar power plant in Mongolia

Japanese electronics giant Sharp Corporation plans to build a 20 MW solar power ...
May 22, 2018

Musical Interactions between Humans, Animals, and Others in Mongolia

ACMS SPEAKER SERIES On Wooden Horses: Musical Interactions between ...
May 29, 2018

Mongolian women in late of the 19th century

In scoop of International Women’s day we present Mongolian women’s pictures ...
May 22, 2018


Ulaanbaatar /MONTSAME/ The Mongolia Economic Forum 2018 (MEF) is being held for ...
May 22, 2018


Ulaanbaatar /MONTSAME/. Minister of Environment, Green Development and Tourism ...
Jul 13, 2018

MNB World Presents Naadam Festival

  MNB World Presents Naadam Festival
Jul 9, 2018

“Culture Naadam” festival at Hui Doloon Hudag

For its 11th year, The Culture Naadam will bring new festive spirit to the ...
Jun 19, 2018

Ecosystem-based Adaptation Approach to Maintaining Water Security in Critical Water Catchments in Mongolia

Mongolia is highly vulnerable to climate change due to its geographical ...
May 22, 2018

Statement of UN's Special Rapporteur John H. Knox

Today, I would like to share some preliminary observations from my mission to ...
Jul 17, 2018

JICA signed Capacity Development Project for Air Pollution Control in Ulaanbaatar City

JICA signed Capacity Development Project for Air Pollution Control in ...
May 22, 2018

President Battulga receives chairman of government of Russian Tuva republic

President of Mongolia Khaltmaagiin Battulga received today Mr. Sholban ...
Jul 17, 2018

Mongolia produces 170-200 tons of honey annually

On July 6, the Ministry of Food, Agriculture and Light Industry held an ...
Jun 15, 2018

Cabinet supports a loan agreement for a solid-waste recycling plant

On June 13, Cabinet approved the submission to Parliament of a bill on ...
May 29, 2018

The future of Mongolian fine arts

By Lucy Thompson A joint exhibition by the graduates of the Mongolian School ...
May 22, 2018

Mongolia’s fruit production covers only 1.5 percent of domestic demand

After having commissioned the Elbeg Urgats greenhouse farm in 2012, Munkh ...
May 22, 2018


Ulaanbaatar /MONTSAME/ At the initiative of Turkish Ambassador to Mongolia ...
May 29, 2018

EBRD and EU improve waste management in Ulaanbaatar

The EBRD is providing a US$ 9.7 million loan (€7.9 million equivalent) to ...
Jul 3, 2018

Oil refinery project construction launches in Dornogobi

An oil refinery project launched construction in Altanshiree soum of Dornogobi ...
Jul 9, 2018

One-stop information center to be set up for foreign-invested companies

On July 4, the Trade and Investment Cooperation Forum 2018 between Mongolia and ...
May 29, 2018


Ulaanbaatar /MONTSAME/ On May 28, Chairman of Mongolian-German Parliamentary ...
Jul 3, 2018

Mongolia’s Sustainable Development Goals consultation to be held

On June 26, a national consultation on Mongolia’s Sustainable Development Goals ...
Jun 4, 2018

Meet the woman creating jobs in Mongolia to beat plastic pollution

As we roamed through the “ger district” in Yaarmag, I noticed the unusual ...
May 29, 2018

Parliament approves 2020-2021 Budget Assumption

At its regular session last Friday, the Parliament approved the 2019 Budget ...

Parliament approves 2020-2021 Budget Assumption

At its regular session last Friday, the Parliament approved the 2019 Budget Framework and Law on 2020-2021 Budget Assumption.

According to the basic guideline to develop socio-economy for 2019, a total of 123 policy actions with 20 objectives will be implemented within the fundamental policy groups such as, macro-economy, regional and rural development, environment, social policy to promote human development, governance, judicial reform, foreign policy and defense sector.

To implement the main guidelines, the Government planned to allocate a total of MNT 8.78 trillion. Out of this, MNT 5.17 trillion will be funded by the government and private sector partnership, as well as private sector investment. The following major actions were included for the next year:

Reduce the total debt of the Government by 10 percent, to 55 percent of the GDP;

Reduce budget deficit by MNT 314 billion, without issuing bonds to fill the budget gap.

During the discussion of the draft bill, the Minister of Finance Khurelbaatar Chimed noted to immediately take policy on reducing the debt. “In 2016, the debt amount equalled 85 percent of the GDP. The plan includes to reduce this indicator by 30 percent, to 55.3 percent in 2019,” the minister emphasized. The draft bill was approved by 80 percent of the attended MPs. Parliament approves MNT 8.78 trillion for 2019 Budget Framework


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