PRESIDENT SUBMITS DRAFT PARLIAMENTARY RESOLUTION ON VOUCHER AND CASH ALLOWANCE FOR HOUSEHOLDS
President of Mongolia Khaltmaagiin Battulga has submitted a draft parliamentary resolution to distribute support in the amount of 1.0 million tugrugs to each household from the recovered offshore assets.
In connection with COVID-19 prevention and combat, individuals and businesses’ activities have been restricted for nine months and halted for a total of 38 days, which subsequently created a risk for households to lose incomes or have no earnings at all, and national enterprises to go bankrupt. The country’s economy is in a state of disrepair.
For this reason, President Battulga drafted a parliamentary resolution on ‘Special measures to overcome the impoverishment and social and economic difficulties caused by the coronavirus pandemic’ to implement the policy and measures to provide a ‘MNT 1 million per household’ support, and submitted it to the Speaker of the Parliament G.Zandanshatar today.
The draft resolution states to allocate 1.0 million tugrugs per household, of which 200,000 is expected to be distributed in cash and the remaining 800,000 in form of vouchers for purchasing goods and products, except for alcohol and tobacco, only national producers, and resolve the required financing with recovered offshore assets. In doing so, the money withdrawn from the offshore accounts shall be deposited in a particular account at the Bank of Mongolia.