According to projections in the
draft budget for 2012 and the preliminary budgets for 2013 and 2014, GDP will
rise by 16.6% in 2012, 14.8% in 2013 and 15.5% in 2014. Prices are expected to
rise between 8% and 9% between 2012 and 2014.

The draft for next year’s budget has a projected revenue of
MNT176.1 billion, which would be 29.8% of GDP. Social welfare expense would
reach MNT218.8 billion.