J.Erdenebat, the Prime Minister of Mongolia has forecast that economic growth in 2016 will be 3%. This is far more optimistic than  the recent Asian Development Bank's figure of  0.3% and the World Bank's 0.1%, which we reported yesterday. ‘According to warnings by international analysts, there are serious problems because of Mongolian beyond budget expenditure and an increase in government spending. The Government, therefore, plans to cut  expenses beyond budget and to implement mayor mining projects such as Oyutolgoi, Tavantolgoi and the power station Tavantolgoi.  During 2017, the Government will not create additional taxation or increase the tax rate. Also, some state owned companies will be privatised,' said PM J.Erdenebat.

On 6^th of October,  the State Great Khural (parliament) discussed the 2017 Budget  Amendment and Social Insurance Funding presented by the Cabinet.