Earlier today (5 December), Kh.Battulga, the President of Mongolia, vetoed spending plans in the 2018 State Budget law which had been approved by parliament. The law has backed by the State Great Khural (parliament) on 14 November.  

According to the 2018 State Budget  law, the revenue projection is MNT 5.2 billion with expenditure at MNT 7.7 billion with a deficit amounting to MNT2.5 billion – or 9.5 percent of GDP.

Previously, President Battulga fully vetoed amendments to the laws on the 2017 State Budget and the law on the Social Insurance Fund which had been approved by parliament. However, the lawmakers overruled the President’s veto.