During Monday”s regular cabinet meeting on October 7th a 2013 state budget amendment draft law was discussed and is set to be submitted along with related draft laws to Parliament.

The Government of Mongolia is submitting a suggestion to Parliament to introduce regulations to hold the budget deficit within 2 percent of GDP in 2013.

The 2013 state budget amendment proposes potential savings to be made from current expenses by cutting costs in units of all levels of state run organizations and agencies in order to save 240 billion MNT between September to December. The amendment classifies the financing measures by their importance and gives the rights to budget rulers to conduct clever budget management.