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PRESIDENT VETOES LAW ON 2019 STATE BUDGET

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2018/11/15 6:20:49
PRESIDENT VETOES LAW ON 2019 STATE BUDGET

Today, President of Mongolia Khaltmaagiin Battulga put a veto on the Law on State Budget for 2019 and the accompanying legislation and parliamentary resolutions. President Battulga handed over an official letter to Chairman of the State Great Khural M.Enkhbold, requesting action in accordance with the corresponding laws and regulations.

The veto reads, “I have reviewed the Law on State Budget for 2019 which was adopted by the Parliament on November 2nd and forwarded to the Office of the President on November 12th.

…I have no choice, but to veto the 2019 budget and remind the Parliament of the necessity to look back on its budget policy, adopt a tight and efficient budget that upholds the national interest and discipline, and fix the following issues that violate the law and contradict the national development policy and vision.”

The letter highlights several issues in the 2019 State Budget Law, including high budget deficit which is MNT 1.9 trillion or 5.4 percent of GDP, “MP’s money” amounting to MNT 8 billion and budget allocation for the construction of facilities without blueprint, and estimation of the mining revenue at MNT 3 trillion which was concluded as unattainable by the National Audit Office. Furthermore, the President points out that the 2019 State Budget Law creates conditions for abrupt increase of public debt and that the projection of MNT 11.5 trillion budget expenditure is not compatible with the objective to maintain inflation within eight percent next year. In addition, President Battulga stresses that the lawmakers must create conditions for small businesses that are truly considered SMEs to be able to obtain loans with 3 percent annual interest from the SME Development Fund starting from January 1st, 2019.

President Battulga requests the State Great Khural to discuss and resolve the veto in accordance with the corresponding laws and regulations.

FEATURED

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GALLERY

thumbnail 523499201_30854473140833232_5774367500708902527_n (1)
523499201_30854473140833232_5774367500708902527_n (1)
2025/07/24 11:29:02Mongolia and Tajikistan Sign Documents on Relations and Cooperation
thumbnail received_2266961917088442
received_2266961917088442
2025/07/24 11:25:57President of Mongolia Holds Official Talks with President of the Republic of Tajikistan
thumbnail received_691719990565941
received_691719990565941
2025/07/24 3:03:14President of Mongolia Officially Welcomed in the Republic of Tajikistan
thumbnail 6881cde00d557
6881cde00d557
2025/07/24 2:30:47President of Mongolia Begins State Visit to the Republic of Tajikistan
thumbnail received_4274592092816926
received_4274592092816926
2025/07/24 2:01:22State Visit of President Khurelsukh Ukhnaa to the Kyrgyz Republic Concludes
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