Speaker gives speech on socio-economic development

Ulaanbaatar, Mongolia, /MONTSAME/ The Parliament Speaker D.Demberel has given a speech at a meeting held on measures for developing the socio-economics in Mongolia.

The Speaker has said the country's socio-economic situation has had a striking achievement in recent years bringing some changes, for example, the economic growth reached 6.1 per cent in 2010, and it almost reached 10 per cent by 2011. “This is a quite high indicator compared with the average economic growth of foreign countries,” D.Demberel has said adding the country is maintaining a policy to ensure the development of Mongolia by intensifying the economic growth. He has mentioned that the state budget had a benefit previous year, and a size of the external trade and investments has increased.

D.Demberel has emphasized that Mongolia managed to overcome the economic crisis and accumulated a big amount of resource of foreign currency, and then added the State Great Khural paid a special attention to reducing of the budgetary deficit and lawfully strengthening of the resources for budgetary income.

He has noted that a principal decision has been made to keep the budgetary deficit within the amount equivalent to less than two per cent of the Gross Domestic Product (GDP) from 2013, pursuant to the law on budget stability. “The state budget for this year is focused more on supporting the economic growth and mass consumption, and on ensuring provision of job places,” D.Demberel has stressed adding the budgetary investment for this year has increased by MNT 237.1 billion or 40 per cent reaching MNT 844.9 billion.

“This is a big opportunity for the private sector. Moreover, the budget is very useful for people and the public,” D.Demberel has underlined.

B.Khuder

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