Finance Minister S.Bayartsogt told Parliament as it
discussed the draft law on fiscal stability on Friday that the new law was
based on the present law on Mongolian Development which in the past  two or three years provided the funds for much
of the social welfare payments  and State
investments, thus helping  Mongolia overcome
the economic crisis.

Adoption of the new law will help Mongolia develop by
following mid-term and long-term economic policies and will make budget
revisions unnecessary. MPs decided that the draft merited discussion and
forwarded it to the Standing Committee on the Economy.