BUDGET LAW 2010 TO BE AMENDED

Ulaanbaatar, /MONTSAME/ Prime Minister S.Batbold presented Thursday to Parliamentary Speaker D.Demberel a bill to amend the law on budget of Mongolia for 2010, a bill to amend the law on 2010 budget of social insurance fund and a bill to amend the law on 2010 budget of Human Development Fund.
According to clarifications to the law on budget of Mongolia for 2010, it is forecasted that the total revenue of the General Government budget will increase by MNT 364.2 billion amounting to MNT 2.791.0 billion, while the total expenditure will rise by MNT 465.9 billion reaching MNT 3.251.3 billion.
The General Government budget overall balance will be a deficit of MNT 101.7 billion, and the total expenditure of the General Government budget will amount to MNT 460.3 billion to have GDP be 6.4 percent.
The government is expecting to generate revenues of MNT 209.3 billion from copper price growth, and of MNT 25.2 billion from gold price surge, of MNT 25.2 billion from Ouy Tolgoi investments, and of MNT 52.0 billion from tax due from Altan Dornod Mongol Company.
It is forecasted that MNT 78.2 billion of the total expenditure of the General Government budget will be spent on a 30-percent increase of salaries of state employees and all kinds of pensions and allowances from October 1, 2010.
S.Batbayar