On Thursday, new Finance Minister D.Khayankhyarvaa submitted to Speaker D.Demberel a draft law on Government responsibilities and a draft resolution on amending the 2012 state budget.

The 2012 state budget says salaries and pensions will increase beginning in March and April, but the minister has decided to move the increases up, due to rising fuel and consumer goods prices and general inflation.

The draft law would transfer the responsibilities of the post of first deputy prime minister to the Government, since the post has been eliminated.

D.Khayankhyarvaa also submitted a draft protocol to issue MNT 300 billion in bonds to lower the budget deficit.

Also on Thursday, Chief of Cabinet Secretariat Ch.Khurelbaatar submitted to the Speaker a draft package of laws on creating a unified regulatory system to eliminate duplication of laws, draft amendments to the laws on controlling explosive substances, on trade, and on statistics, and a draft law on ratifying a “sustainable living” loan agreement with the Asian Development Bank and South Korea.